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Turkish, SA Rates Under Pressure as Risk Sentiment Sours

  • Both Turkish & SA bonds are under significant selling pressure at the start of the week as the economic realities of the Ukraine conflict hit home with energy prices skyrocketing and EU equities nosediving.
  • TurkGB yields stand +20-56bp higher, while USD bond yields are up +40-86.6bp with a bear flattening bias holding today. Turkey’s 5Y CDS is also up +53bp today.
  • SAGBs are under similar pressure with yields +32-38bp higher across the curve with bear flattening momentum holding as well.
  • 10Y yields are hovering around 10.40, while the 30Y has breached 11.00 resistance.
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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