Weekly Outlook

WEEKLY OUTLOOK 24-28 October 2016

03 Jul 18 (Tue)
11:27 am

WEEKLY OUTLOOK 24-28 October 2016

WEEKLY OUTLOOK On top of rating downgrade expectation from Fitch, heightened geopolitical risks and debates over Constitutional changes have negatively affected risk perception about Turkish domestic assets. However, the CBRT’s decision not to move policy rates in this month’s Monetary Policy Council meeting alleviated the pressure over exchange rate and CDS spreads eased to 246.6 on Friday from 252.9 a week ago. BIST100 ended the week at 78,844 on a 1.7% gain while the gain has been 2.1% in USD terms. USD/TRY on a 0.4% weekly drop,...

WEEKLY OUTLOOK 17-21 October 2016

03 Jul 18 (Tue)
11:08 am

WEEKLY OUTLOOK 17-21 October 2016

2Y, 5Y and 10Y benchmark bond yields rising from 8.66%, 9.20% and 9.72% a week ago to 8.95%, 9.54% and 9.96% respectively.Domestic markets which felt a relief after Moody’s downgrade has experienced high volatility in the week to October 14, mainly due to increasing expectations of another downgrade from Fitch, operation preparations to Mosul and steep rise in dollar index. Turkey’s 5Y CDS spread picked up from 249.2 in October 7 to 252.9 in October 14, BIST 100 closed the week at 77,554 on a 0.5% loss (1.7% loss in USD terms) compared to previous week, USD/...

WEEKLY OUTLOOK 10-14 October 2016

09 Oct 16 (Sun)
12:00 am

WEEKLY OUTLOOK 10-14 October 2016

Having left behind Moody’s related tension, markets were in an effort to recover this week, despite reemerged terrorist activities and expected downgrade from Fitch as well. With an increase in risk appetite, 5Y Turkish CDS spread which ended Sep 30 week at 262.1 has come down below 250 by Oct 7 close. BIST100 ended the week at 77,976 on a 1.9% gain (0.3% in $ terms) while USD/TRY was 1.7% up to 3.053 at the end of the week. Thanks to sharp drop in September inflation and globally low yields, bond yields have ended the week lower than previous week. 2Y benchmark bond yield closed at 8....

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