Daily Bulletin

Good morning. This morning begins with news that the United States has reached, is about to reach, or is initiating trade agreements with several countries in Asia. Notably, the agreement with Japan—particularly the reduction of tariffs on automobiles from 25% to 15%—stands out. In Tokyo, we are seeing gains exceeding 3% this morning. Additionally, ongoing negotiations with the Philippines, Indonesia, and China are also supporting other regional equity markets. U.S. and European equity futures are trading in positive territory, with European futures showing gains of more than 1%. Borsa Istanbul closed flat yesterday, accompanied by a modest capital outflow. However, overall positive momentum remains intact, with the BIST 100 index holding above its 200-day simple and exponential moving averages on a USD basis. High trading volumes are also reinforcing the positive technical outlook. This morning, we expect the optimism in global markets to provide renewed upward momentum. In the short term, the 10,800 / 11,000 range is the first resistance zone to watch, while the 10,300 / 10,400 area remains a key support region. On today's macro agenda, consumer confidence indices will be released in Turkey and across Europe, while mortgage application data will be monitored in the U.S. The most critical day of the week in terms of scheduled events will be tomorrow, with central bank rate decisions expected in both Turkey and Europe, alongside global PMI releases. Turkey's 5-year CDS premium opens the day at 284 basis points.