Free Trial

USD Rates Hold Up Better than Local Counterparts, Sector Confidence Data Due

TURKEY
  • Local & USD rates unch this morning, having traded mixed in yesterday's session.
  • USD bonds continued to outperform locals, managing to trade marginally in the green (-1.3-1.8bp) with a slight bull steepening bias.
  • Locals, however, continued to sell-off at the front end +4-5bp, bear flattering the local curve.
  • 5Y CDS holds -2.17bp lower, holding below the 400 handle at 397.606, but may see upside pressure associated with Erdogan firing another CBRT official.

Data:

  • 0800 Capacity utilization, 75.9% prior
  • 0800 Real sector confidence SA, 107.4 prior
  • 0800 Real sector confidence NSA, 111.0 prior
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.