Hazineden Güne Bakış

Turkey’s rates market stayed elevated as the 2-year benchmark closed at 41.17% and the 10-year at 35.40%, while hard-currency funding costs remained contained with 5Y and 10Y eurobond yields at 7.15% and 7.70%. Country risk held at 226 bps and USD/TRY traded around 48.67. In the U.S., a unanimous 25 bp Fed hike set the policy rate at 4%, with the 10Y UST near 4.99% and the dollar index around 100. Brent hovered near $101 and gold near $4,310/oz.

Near-term focus centers on domestic monetary policy signaling from the September MPC minutes, alongside the Bank of England rate decision and Euro Area August CPI. On the funding side, recent domestic auctions cleared at average compound yields around 35–41% with sizable allocations, and the financing plan targets a 95% rollover for September, highlighting continued emphasis on market funding amid a heavy redemption calendar.