Daily Bulletin

Good morning. The executive order signed by President Trump, which introduces reciprocal customs duties in the U.S., is having a positive impact on global markets despite including measures such as VAT. This positive effect primarily stems from the perception that an aggressive and confrontational tariff policy will not be pursued and that, at least from the U.S. perspective, fairness in tariffs is being considered. Looking at the stock markets, there were gains in both the U.S. and Europe yesterday. This morning, U.S. futures remain in positive territory, while European futures are negative. In Asia, the overall trend is predominantly bullish. Borsa Istanbul closed slightly above 9,900 yesterday with an increase of over 1%. This morning, we expect the positive momentum to continue. In the short term, the BIST 100 index could target the 9,980 – 10,000 resistance zone. However, the main resistance area is seen between 10,200 and 10,300, while the primary support range is between 9,600 and 9,700. Although the market remains volatile, continued capital inflows and positive valuations suggest that the main resistance zone may be tested in the coming days. On today’s agenda, domestically, the CBRT Market Participants Survey and housing sales data will be monitored. Internationally, growth data in Europe and consumer-focused indicators in the U.S. will be in focus. Turkey's five-year CDS premiums start the day at 253 basis points.