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USD Bonds Gain as Ukraine Talks Gain Traction, CDS Retreats-147bp From Last High

TURKEY
  • Local & USD rates open on the mostly front foot this morning, holding yesterday’s more positive momentum as Ukraine negotiations saw progress.
  • USD bond yields fell -37-48.4bp across the curve with 3-5Y tenors leading the pack, While TurkGBs rose slightly in 5-7Y tenors at +6-12bp on the day.
  • W/w, the USD curve stands -73-110bp lower in 1-10Y yields with a bull steepening bias holding. Credit default swaps fell -47bp as energy risks faded slightly, eyeing the 550 handle as the next major support – followed by 500.
  • Turkey 5Y CDS


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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