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Turkish USD Rates Find Some Breathing Room, 5Y CDS Falls Short of 450

TURKEY
  • Local & USD rates seen unchanged so far this morning, having traded flat to firmer in yesterday's session.
  • TurkGBs ended the day mixed to firmer: 2Y -3bp, 5Y -4bp, while the rest of the curve held +1bp higher. Meanwhile, USD bonds outperformed – retracing some of the weakness from the start of the week.
  • The curve shifted -13.8-19.9bp lower, with 2-5Y tenors most bid.
  • Turkey's 5Y CDS also saw some reprieve, falling -8.58bp to below 430.

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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