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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TURKEY
- Local & USD rates trade little changed around the open, having closed sharply higher on Friday as TRY assets continued to bleed following the CBRT rate cut.
- USD bonds were most affected with the curve bear flattening +42-53bp in 2-5Y yields as markets anticipate an eventual reversal in policy.
- TurkGB yields also rose sharply with 3 & 10y yields rising +41 & +63bp respectively.
- W/w the TurkGB curve closed +93-105bp higher across the breadth of the curve with the 3-5Y section most offered in a trend that’s likely to persist this week with Erdogan doubling down on his low rates policy over the weekend.
- The 5Y CDS also ticked up +50bp to breach the 2018 highs.
TurkGB curve w/w
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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