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EUROZONE T-BILL ISSUANCE

Bill Supply for W/C Jan 17, 2022 (1/2)

USDJPY TECHS

Bullish Doji Candle

UK

Timeline of key events (Times GMT)

EURGBP TECHS

Still In Consolidation Mode

EUROZONE

Timeline of key events (Times GMT)

GBPUSD TECHS

Bullish Price Sequence Intact

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  • TurkGBs trade slightly in the red at the start of play, having seen bear flattening pressures resume in both USD & local curves.
  • Again, USD bonds were most offered on the day, with 2-3Y yields rising +16.1-30.9bp on the day while the rest of the curve lifted +5-11bp.
  • W/w the USD curve ends +160-203bp higher in 1-2Y yields, while the TurkGB curve trades +31-35bp higher in 2-5Y tenors as the AKP continues to back its ultra-loose policy direction.
  • Meanwhile, Turkey’s 5Y CDS has risen +33.9bp since Monday, pausing for breath in yesterday’s session around 540.