Daily Bulletin

Good morning. As tensions between the U.S. and Iran set the main tone for global markets, other headlines such as the Fed minutes, U.S. growth-oriented data, and earnings releases are having a relatively limited market impact during this period. Although news flow during the day pointed to the possibility of a strong intervention against Iran in the near term—heightening tensions—subsequent, more measured messages emphasizing diplomatic and bureaucratic channels helped markets regain some balance. Following positive closes in the U.S. and Europe, futures are flat this morning, while open Asian markets are generally trading higher. In Borsa Istanbul, a strong opening yesterday pushed the index from 14,200 to as high as 14,530; however, reports of potential intervention against Iran in the afternoon led to a pullback toward 14,260 by the close. Despite this volatility, the BIST 100 Index posted a daily gain of 0.23%. The top positive contributors to the index were ASELS, DSTKF, KLRHO, YKBNK, and AKBNK, while THYAO, TAVHL, PASEU, PGSUS, and SISE weighed negatively. Over the past week, consistent inflows have been observed in YKBNK, TOASO, and TTKOM. From a technical perspective, resistance levels at 14,340, 14,530, and 14,800 / 15,000 can be monitored, while 14,110 and 13,800 / 14,000 stand out as key support zones. On today’s agenda, domestic data releases include consumer confidence, housing sales, reserves, and foreign transactions. In Europe, current account and construction sector data will be followed, while in the U.S., weekly jobless claims, import–export price indices, and pending home sales will be in focus. Turkey’s 5-year CDS premiums start the day at 220 basis points.