Daily Bulletin

Good morning. Global markets are starting the new week on a positive note. U.S. President Trump and Russian President Putin are expected to meet in Alaska on Friday. Expectations of a decline in geopolitical risks, increased pricing for a Fed rate cut, positive earnings results, and progress in trade negotiations continue to support global markets. Looking at Borsa Istanbul, the upward trend remains intact; however, momentum weakened during the last two days of last week. The 11,000 level was tested twice on Thursday and Friday but could not be surpassed. Today, we expect another attempt toward the 11,000 mark. In the short term, 11,050 and 11,250 are seen as resistance levels, while 10,800 and 10,500 serve as support levels. Upward revisions to BIST 100 index targets are continuing, with the latest averages pointing toward 14,200 and above. On today’s agenda, domestic markets will monitor June industrial production data. This will provide the final data point for the last month of the second quarter and an important clue for second-quarter growth. The international agenda is relatively quiet. Later in the week, domestic markets will focus on Thursday’s CBRT Inflation Report presentation, while in the U.S., inflation data will be in focus, and in Europe, growth data will be monitored. Turkey’s 5-year CDS premiums start the day at 277 basis points.