Daily Bulletin

Good morning. While recession concerns in the U.S. continue to drive selling pressure on Wall Street, the approval of a program in the House of Representatives to fund public activities until September 30 is supporting futures. Similarly, in Europe, after markets fell more than 1% yesterday, futures are trading around 1% in positive territory this morning. In Asia, the outlook remains mixed. On Borsa Istanbul, the 10,500 resistance level was tested for the third time yesterday but could not be surpassed. Today, we expect it to be tested for the fourth time. The 10,520 / 10,560 zone can be monitored as a resistance area. On today's agenda, U.S. CPI data stands out. The data, to be released at 15:30, is expected to show a slight decline in both headline and core annual inflation figures. In the U.S., the volume of put positions in the options market has reached record levels, which increases the likelihood of a reactionary buying move following today's CPI release. In such a case, we expect the positive momentum in BIST to find renewed support. The 10,350 / 10,380 range can be watched as the initial support area for BIST. Turkey's 5-year CDS starts the day at 264 basis points. Moving forward, we expect it to decline back to 250 basis points or lower.