Daily Bulletin

Good morning. Fed Chair Powell’s remarks suggesting that the balance sheet reduction process may be coming to an end — coupled with signals of a potential rate cut later this month despite the ongoing government shutdown — have supported buying interest across U.S. and European futures as well as several Asian markets. In this context, global risk appetite can be considered positive. At Borsa Istanbul, the index closed just above the 10,200 / 10,300 support range yesterday after a decline of up to 2.3%. Momentum remains weak. From a technical standpoint, an attempt to hold above the 10,200 / 10,300 support zone may be observed today, and the success of this effort will be critical for a potential recovery in the index. Below 10,200, the 10,000 level stands as a psychological support; however, due to the double-top formation, the 9,000 / 9,500 range could come into focus. In the event of a rebound, the 10,500 level will be the first resistance to watch. Today’s agenda is calm. Turkey’s 5-year CDS premium starts the day at 269 basis points.