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- Local & USD rates remain unchanged this morning, having outperformed on Friday. T
- he local curve moved sharply lower in Friday's session (-26-54bp) with gains concentrated in the belly: 3Y -34bp, 5Y -54bp, while USD bonds remained little changed on the day.
- W/w the local curve stands firmly lower across the breadth with 5-7Y tenors leading the way lower.
- Turkey's 5Y CDS, however, failed to move below 380 support and remains pegged in the 380-390 range.