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Turkish Rates Rally Following US CPI, Credit Default Swaps Fall

TURKEY
  • Local & USD rates remain Unch this morning, having gained across the curve in yesterday’s mostly risk-on session following US CPI.
  • TurkGB yields fell-34-67bp across the curve with a bull flattening bias holding in 7-10Y tenors.
  • Conversely, USD bonds bull steepened on the day with 2-3Y yields falling -17.2-38.6bp.
  • Credit default swaps made a notable decline, falling -16.23bp on the day just shy of 550 support.
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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