Daily Bulletin

Good morning. The downward revision of growth expectations in the U.S. and political obstacles to defense spending plans in Europe are weighing on global markets. While the sell-off in the U.S. is part of ongoing concerns since mid-February regarding tariffs, inflation, and recession risks, Europe is pricing in a newly emerging agenda. In Asia, markets remain caught between stimulus expectations and global pressures. In Borsa Istanbul, despite the Competition Authority's investigation into retail companies putting pressure on BIMAS, MGROS, and SOKM, other stocks remained generally resilient yesterday. However, selling pressure in global markets toward the close led to a decline in BIST as well. Although U.S. and European futures are showing a slight rebound this morning, the weak outlook in BIST may persist at the open. That said, despite yesterday’s sell-off, there is no significant deterioration in BIST’s technical outlook yet. Throughout the day, the key focus will be whether the BIST 100 index can hold above the 10,200 / 10,300 support zone. A drop below this level could bring 10,000 and lower levels back into play. The 10,500 / 10,600 zone serves as the first resistance area. The day’s agenda is relatively quiet, with U.S. job openings data being the primary event to watch. Meanwhile, Turkey’s 5-year credit default swaps (CDS) start the day at 264 basis points.