Free Trial

USD Bonds Pare Yesterday's Gains, Bear Steepening Momentum Holds in TurkGBs

TURKEY
  • Local & USD rates open slightly weaker this morning on the back of hawkish comments from Powell overnight.
  • Since then, analysts have boosted rate hike expectations for potential 50bp steps in May & June as the Fed front-loads its cycle to counter inflation.
  • Turkish USD bond yields stand +2-9bp higher with the curve bear flattening in early trading, while TurkGBs trade mixed. Yesterday’s session saw USD bond yields fall -2-5.5bp, while TurkGB yields rose +12-39bp with a bear steepening bias holding.
  • The 5Y CDS has been mostly placid since Thursday’s close – holding just shy of 600, despite the rise in oil prices.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.