Daily Bulletin

Good morning. Global markets are starting the day on a positive note. Fed official Waller's dovish messages brought noticeable buying activity to Borsa Istanbul near yesterday's close; however, the same optimism wasn't observed on the U.S. side. Still, U.S. futures are in positive territory this morning, and European markets remain on the positive side after strong closings. In Asia, better-than-expected growth data from China is a positive development, but other regional markets are showing weakness. The BIST 100 index closed slightly above the 9,850 resistance level yesterday, with notable inflows and an increase in trading volume. We expect this rebound to continue today, and the day is also critical in terms of the weekly close. If the index holds above 9,850 and moves toward 10,000, it could signal an improvement in the technical outlook. In this scenario, the 10,150–10,300 range may become a target once again. However, if the index falls below 9,850, the 9,500–9,600 support zone would come back into focus. Today's agenda includes the CBRT market participants survey on the domestic front. Internationally, inflation data (CPI) from Europe, as well as housing market data, industrial production, and capacity utilization from the U.S., will be closely watched. Next week’s schedule is packed, with key events such as the inauguration of U.S. President-elect Donald Trump, the CBRT's policy rate decision, global PMI data, and other growth-related indicators. The week will close with Moody's decision on Turkey’s credit rating, where we expect an upgrade. This morning, Turkey’s 5-year CDS premiums start the day at 270 basis points.