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Global risk tone is mixed as Asia trades unevenly and US equity futures edge higher, while Turkish equities suffered a sharp pullback with BIST-100 down 5.5% on the day; a flat open is expected for Borsa Istanbul. Fed raised the policy rate by 25 bps to 3.75–4.00% in a unanimous decision, signaling price stability remains the priority amid resilient growth and labor markets. Projections point to stronger growth in 2026–2027, slightly lower unemployment, and higher 2026 PCE inflation at 3.7%, keeping alive the risk of at least one additional hike. Chair Warsh emphasized persistent upside inflation risks and a data-dependent path.

In Turkish corporates, Mavi’s 2Q26 revenue was TL 12.6bn (flat y/y), EBITDA TL 2.1bn (+4% y/y, above expectations), and net income TL 263mn (-14% y/y, below consensus). The company revised 2026 revenue guidance to low single-digit decline to flat from prior +5% (±1%), while maintaining other targets, including a UFRS16-inclusive EBITDA margin of 18.5% (±0.5%). A new one-year buyback program was announced with a maximum TL 1bn budget (up to 5% of shares), which could support share performance.