Daily Bulletin

Good morning. Global risk appetite remains balanced. The U.S. equity markets are supported by a conciliatory stance on tariffs and the gradual legislative progress of tax reduction plans. This morning, U.S. futures are slightly negative, European futures are mildly positive, and Asian markets are displaying a mixed outlook. In Borsa Istanbul, the postponement of the CHP congress lawsuit to September 8 led to a sharp rally of nearly 6% in both TRY and USD terms yesterday, supported by noticeable foreign inflows. In an environment where expectations of a rate cut by the Monetary Policy Committee (MPC) are rising and CDS spreads continue to decline, the XBANK Banking Index may maintain its support. In BIST, the continuation of positive momentum may prompt an attempt to move above the 10,000 level during the day. However, the session opens with news of an investigation launched by the İzmir Chief Public Prosecutor’s Office into the İzmir Metropolitan Municipality, resulting in the detention of 157 individuals, including former Mayor Tunç Soyer. While this development is not expected to have a market impact similar to the events of March 19, it may trigger profit-taking throughout the day. In this context, resistance levels are located at 10,000, 10,150, and 10,380, while support levels are seen at 9,800, 9,850, and 9,700. On today's agenda, both domestic and international PMI figures will be followed, alongside Eurozone CPI and U.S. ISM Manufacturing data. Turkey's 5-year CDS spreads start the day at 289 basis points.