Daily Bulletin

Good morning. Global risk appetite remains broadly positive. U.S. and European equity futures are trading in the green, while the outlook in Asia is more neutral. Borsa Istanbul rose by 2.5% yesterday, supported by strong capital inflows. We expect the renewed positive momentum to carry the index toward the 10,450 / 10,500 resistance zone. According to data released by Borsa Istanbul, there was a net foreign inflow of $1.1 billion across the market in June, bringing the total net inflow in the first six months of the year to $1.9 billion. It is worth noting that each year from 2018 to 2024 saw net annual foreign outflows. Should this year end with continued inflows, it would mark the first time in eight years that Türkiye has closed a calendar year with net foreign purchases. Expectations for a potential rate cut at next week’s CBRT Monetary Policy Committee (MPC) meeting continue, which should remain supportive for BIST. Nonetheless, geopolitical risks — such as Israel's military operations in southern Syria and the recent escalation in U.S.-Russia tensions — as well as ongoing domestic political developments, warrant close monitoring. On today’s agenda: locally, the CBRT will release weekly foreign transactions data; in Europe, current account figures are due; and in the U.S., housing starts, building permits, and the University of Michigan consumer sentiment indices will be announced. Türkiye’s 5-year CDS premium opens the day at 290 basis points.