Daily Bulletin
Tacirler Investment
Good morning. Global markets are starting the day on a positive note. This optimism is expected to support Borsa Istanbul as well; however, the domestic market's direction will be more influenced by the November inflation figures, which will be released simultaneously with BIST's opening. A monthly increase of 1.9% in the Consumer Price Index (CPI) is anticipated. A figure at this level or below would support expectations for a rate cut by the Monetary Policy Committee (MPC) on December 26, potentially driving buying activity in BIST companies, especially banks. A figure of 2% or higher would not have a negative effect but might limit the supportive outlook stemming from global markets. From a technical perspective, the flag formation in BIST is still developing. The formation's resistance is at 9,750; if this level is breached, the formation's target is 10,500 (with intermediate resistances at 10,000 and 10,200). The cancellation level of the formation is 9,570. In the U.S., President-elect Trump continues to issue warnings about tariffs targeting multiple countries, including China, Russia, Mexico, and Canada, ahead of his January 20 inauguration. However, we believe many of these issues are subject to negotiation and that, once he assumes office, he is unlikely to pose the same level of threat to the global economic system. Therefore, the market impact of Trump’s statements during this period may remain limited. Today’s agenda is relatively calm apart from the inflation data domestically. In the U.S., messages from Federal Reserve officials will be closely watched. Turkey’s 5-year credit default swap (CDS) premiums remain steady at 257 basis points.