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Turkish Bonds Slide as Risk Sentiment Drops-Off

TURKEY
  • Local & USD rates remain unchanged this morning, having weakened broadly in line with the EM trend in yesterday's session.
  • TurkGBs closed +3-7bp bear steeper in 5-10Y yields on the day, while USD bonds were slightly more muted – ending +2.3-2.6bp higher across the breadth of the curve.
  • Turkey's 5Y CDS lifted +6bp to trade above the 440 handle, while USD/TRY 1w & 1m implied vols ticked up slightly.
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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