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USD Bonds Outperform TurkGBs W/W; 5Y CDS Trims Move Lower as Oil Rises

TURKEY
  • Local & USD rates open on the weaker side this morning, following yesterday’s CBRT meeting. TurkGB yields are up +15-17bp in 3 & 7Y tenors, while USD bond yields stand +1.1-5.6bp with a bear flattening bais holding.
  • W/w USD bonds have diverged from TurkGBs, holding onto bull steepening gains with the latter close +16-58bp higher across the curve and bear steeper.
  • Credit default swaps trimmed the move lower yesterday as Ukraine talks faltered and Brent pushed higher from the $100/bbl mark.
  • W/w the 5Y CDS stands -82.4bp lower – holding in the 550-600 range.
  • USD Curve w/w



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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