Daily Bulletin

Good morning. The United States’ insistence on Greenland and the escalating tensions between the U.S. and Europe remain in focus. Following military exercise decisions by several European countries in the region, the U.S. announcement of imposing a 10% customs duty on eight European countries starting February—rising to 25% in the second half of the year—along with the European Parliament’s decision to suspend trade agreements exceeding USD 90 billion, has further intensified the confrontation. Although U.S. markets are closed today, both U.S. and European futures are trading in negative territory by approximately 1–1.5%, while Asian markets present a mixed outlook. On the domestic front, the positive momentum in Borsa Istanbul continues. The BIST 100 Index closed on Friday up 1.70% at the intraday high of 12,668, with foreign inflows and strong trading volumes standing out. The top five contributors to the index were BIMAS, ASELS, CCOLA, KLRHO, and TUPRS. Over the course of the week, stocks attracting notable capital inflows included THYAO, MGROS, TCELL, ASTOR, EREGL, TUPRS, and CCOLA. The 12,800 / 13,000 band continues to act as a resistance zone, while 12,500 and 12,300 remain key support levels. On today’s agenda, the domestic housing price index and Eurozone CPI data will be monitored. In addition, the Davos Summit, which will last five days, kicks off today. Approximately 400 participants—including heads of state, senior economic policymakers, and central bank officials from nearly 70 countries—are expected to attend. U.S. policies regarding Greenland are likely to rank high on the agenda. Looking ahead to the rest of the week, the CBRT’s MPC interest rate decision (Thursday, 14:00) and credit rating assessments by Moody’s and Fitch (after market close on Friday) will be closely watched. Turkey’s 5-year CDS premiums start the day at 216 basis points, where a recent easing has emerged following a two-week upward trend.