Daily Bulletin

Good morning. U.S. markets were closed yesterday, but futures are in positive territory this morning; overall, we are also seeing optimistic pricing in Europe and Asia. U.S. and Russian officials are expected to meet today in Saudi Arabia. Meanwhile, Ukrainian President Zelensky is in Turkey to meet with President Erdoğan and is then expected to travel to Saudi Arabia. However, it remains uncertain whether Zelensky will meet with U.S. and Russian delegations. This entire agenda suggests progress toward ending the Russia-Ukraine war, which in turn is supporting global markets. Despite the selling pressure towards the close of trading yesterday due to external factors, we expect a positive opening for Borsa Istanbul this morning. For the BIST 100 index, resistance levels can be observed at 9,900, 9,950, and 9,980, while support levels are at 9,760, 9,720, and 9,620. Given the recent tight trading range in the BIST 100 index, support and resistance levels are quite close to each other. However, considering long-term valuations pointing above 14,000, the likelihood of an upward breakout remains high. On today's agenda, the Housing Price Index will be monitored domestically. The macroeconomic data schedule is relatively quiet, but global political developments will continue to dominate the agenda. Turkey's 5-year CDS started the day at 244 basis points. For the first time in a long period, CDS prices are below 250 basis points.