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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 sold-off across both curves in yesterday’s session as the expectations for another dovish CBRT come into focus.
- TurkGBs were most offered on the day, rising +19-38bp across the curve with the 3Y most affected. Similarly, USD bonds slipped into the red, closing +9.8-18.1bp higher with 3-7Y yields underperforming the most.
- Turkey’s 5Y CDS also rose +17.62bp on the day to move comfortably back above 500.
- Rates should continue to remain on the backfoot ahead of the FOMC & CBRT this week with a toxic combination of deeper negative real yields, weak sentiment and a tightening external environment putting upside pressure on yields.
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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