Daily Bulletin 10 June 2021 Thursday
Market Watch Thursday, June 10, 2021 www.sekeryatirim.com.tr Agenda 07 M onday 08 Tuesday 09 Wednesday 10 Thursday 11 Friday Treasury auc- Treasury auction China, May CPI & ECB, rate decision TurkStat, April industrial pro- tion PPI duction Germany, April industrial pro- U.S., jobless claims Germany, April duction U.S., May CPI U.S., June Michigan Consum- factory orders er sentiment Germany, June ZEW Index U.S., May Federal Treasury Budget Outlook: Major global stock markets remained subdued and closed slightly lower after cautious trading midweek, although risk appetite has remained healthy. Having started the day somewhat positively, the BIST100 traded within a narrow band to close 0.11% higher at 1,449.17. The TRY has Volume (mn TRY) BIST 100 appreciated slightly along with other EM currencies, while Turkey’s 5-year CDS premium continued to decline to 383bps. Should this premium contin- 24.000 ue to decline, the TRY is likely to continue its recovery and the banking 1.600 sector index is likely to relatively strengthen. The BIST is thus likely to 20.000 1.500 maintain its uptrend and any possible profit taking would remain limited, as 16.000 long as global risk appetite remains healthy. Investors will today focus on 18.197 1.400 the US consumer price index data for May; a higher than expected reading 12.000 14.261 may increase worries over Fed tapering. This may spur further profit taking 8.000 14.328 14.281 13.554 1.300 in the US and other global stock markets, and the BIST may follow suit.
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