Daily Bulletin

Good morning. The U.S. government shutdown continues, and as today marks the 10th day, there is a risk that some federal employees may not receive their full pay or may experience partial payments. Next week, on Wednesday, October 15, salaries for the remaining federal employees, including military personnel, are also due. However, due to the deadlock in the Senate and the repeated failure of the funding bill—which has now been voted on seven times—the process is expected to be prolonged further. As a result, the risks associated with the government shutdown appear to be increasingly priced in, leading to selling pressure on U.S. equities. This morning, however, U.S. and European futures are trading flat, while Asian markets are broadly negative. In Borsa Istanbul, the BIST 100 index has been moving sideways within the 10,700–10,900 range for the past four sessions, though momentum remains weak. The 10,600–10,700 range serves as the first support zone, while 10,900–11,000 represents the initial resistance zone. In a broader context, the 10,200–10,300 area is the key short-term support region, whereas the 11,250–11,300 band is seen as the main resistance area. Twelve-month forward BIST 100 index targets remain around the 15,000 level. The daily agenda is relatively quiet. In the U.S., the federal budget data—normally scheduled for release this evening—will likely not be published due to the ongoing government shutdown. Turkey’s 5-year CDS premium starts the day at around 260 basis points.