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Turkish Bonds Outperform, Local Curve Bull Flattens W/W

TURKEY
  • Local & USD rates unchanged so far this morning, having traded broadly firmer in yesterday's session.
  • TurkGB's closed the session -8-11bp bull flatter with gains concentrated in the 5-10Y portion of the curve, while the USD curve also bull flattened -4.5-5.2bp with the 10Y leading the way lower.
  • W/W the TurkGB curve trades bull flatter with 8-10Y yields -19-21bp lower on week.
  • The USD curve is positioned lower across the breadth with a slight bull steepening bias.
  • Turkey's 5Y CDS continues to track lower after taking out 380 support – with an eye on the 366.786 low.

  • TurkGB Curve W/W


MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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