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USD Bonds Outperform Locals as Short Duration Remains Under Pressure

TURKEY
  • Local & USD rates unch this morning having traded mixed during yesterday's session.
  • Locals went offered against the grain of firmer EM FI markets, bear flattening +8-12bp from the front end.
  • W/w short duration continues to sell off, with the 3m-1Y portion of the curve most affected – trading +30-50bp higher.
  • USD Rates were better bid across the curve, diverging from locals to close -9.5bp bull steeper from the 2Y.
  • W/w the USD curve trades lower across the breadth, with 1-4Y tenors outperforming.

  • Local Rates W/w Change


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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