Daily Bulletin

Good morning. Global markets are displaying a mixed outlook. In the U.S., Trump's one-and-a-half-hour speech to Congress early this morning is dominating the agenda, while the Atlanta Fed's forecast of a 2.8% contraction for Q1 growth has drawn significant attention. Weakness persists in U.S. stock markets, which have pulled back 5%–10% over the past two weeks, with indices now approaching their 200-day moving averages. In Europe, discussions on €150 billion in credit for EU countries, an additional €650 billion in defense funding over four years, and a €500 billion infrastructure fund for sectors like transportation, energy, and housing in Germany are driving a positive sentiment. These developments are leading to buying in European markets this morning, following yesterday’s declines in tandem with the U.S. In Asia, China's decision to maintain a 5% growth target for this year, despite all U.S. measures, is supporting regional markets. At Borsa Istanbul, despite global uncertainty, we expect a positive opening. As long as the BIST 100 index remains above the 9,800 support level, the 9,950 and 10,030 resistance levels can be monitored as short-term targets. Today's agenda includes PMI services data, inflation figures in Europe, and employment and consumption-focused data in the U.S.. Meanwhile, Turkey's 5-year CDS begins the day at 257 basis points.