Daily Bulletin

Good morning. Over the weekend, the feared scenario materialized as the United States launched a direct military intervention against Iran, announcing that it had struck three separate nuclear facilities. Going forward, markets will focus on how Iran will respond to this attack—whether it will target U.S. bases in the region or opt to close the Strait of Hormuz. Domestically, in addition to these developments, non-economic judicial and political issues are also contributing to increased risk perception. Therefore, Borsa Istanbul may exhibit a more pronounced negative reaction compared to global markets in response to the U.S.–Iran–Israel conflict. On the BIST 100 index, the 9,000 / 9,100 support zone along with the 9,250 and 9,340 resistance levels will be monitored. Today’s agenda includes domestic tourism data, and PMI figures from the U.S. and Europe. Later in the week, attention will turn to Fed Chair Powell’s testimony before the U.S. Congress, as well as U.S. GDP growth and inflation indicators. Beyond macroeconomic data, geopolitical developments will remain at the forefront of the agenda, particularly those impacting oil prices. Given the current environment, we believe risks should be managed conservatively, with close attention to support levels and strict adherence to stop-loss discipline. Turkey’s 5-year CDS premium starts the day at 309 basis points.