Daily Bulletin

Good morning. Global risk appetite is balanced this morning. The statements of Trump, who will take office in the United States in two weeks, regarding Greenland, Panama, the Gulf of Mexico, Canada, China, and Russia continue to draw criticism. However, these reactions have not yet had an observable impact on the markets. That being said, the influence of global political developments on the markets may increase starting from January 20. Following the rebound we shared yesterday morning, Borsa Istanbul closed precisely at the 10,000 level. Supported by foreign purchases and capital inflows, we expect this rebound to continue today as well. For the BIST 100 index, the key resistance levels to watch are 10,160 and 10,280, while the support levels are 9,880 and 9,780. On today’s agenda, domestically, we will monitor the unemployment rate and November industrial production data. With the November data, we will also gain insights into the second month of the fourth quarter of 2024, providing further clues about the 4Q24 GDP growth performance. Overall, we expect stronger growth compared to the third quarter, and the data is anticipated to confirm this view. Externally, important data such as the U.S. non-farm payrolls, unemployment rate, and average hourly earnings will be closely followed. These figures are significant for determining the Federal Reserve's policy direction. Turkey’s 5-year CDS premiums start the day at 267 basis points.