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Turkish Rates Trade Mixed Ahead of Key CPI Data

TURKEY
  • Local & USD rates trade little changed around the open, having closed yesterday's session mostly firmer.
  • TurkGBs closed mixed to firmer on the session with &Y yields ending -3bp.
  • Meanwhile, USD bonds gained ground - bull steepening -11.8-22bp in 2-7Y yields with the 2Y outperforming, while 10-15Y yields fell -7.3-7.9bp.
  • CPI will be the primary focus today, with expectations of an upside print above the 20 mark likely to weigh on rates as real yields become more deeply negative.
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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