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Turkish Yields Track EM Peers as US Inflation Concerns Weigh on Sentiment

TURKEY
  • Local & USD rates Unch this morning, having retained their offered bias throughout last week in line with the majority of its EM peers.
  • W/w the local curve closed marginally bear steeper, with the majority of the curve holding ~10bp higher as US inflation risks bolstered upside momentum in Treasury yields.
  • Similarly, the USD curve shifted +10-20bp higher across the 3-25Y portion of the curve w/w.
  • 5Y CDS pulled back from the 420 level last week, but remains pegged above 400 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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