Daily Bulletin

Good morning. Expectations surrounding a potential agreement between the U.S. and Iran continue to support global markets. U.S. President Trump kept optimism alive by responding “one week” when asked whether he could share a timeline. The agenda referenced by Trump also aligns with his scheduled visit to China next week. Meanwhile, Iran stated that it is reviewing the U.S. proposals and will communicate its response through Pakistan. Looking at global equity markets, U.S. indices closed yesterday with gains ranging between 1% and 2%, while European markets advanced by 2% to 3%. Asian markets are also trading mostly positive this morning. U.S. and European futures, however, are relatively flat at the start of the day. In Borsa Istanbul, the resistance level of the flag formation that we had highlighted in recent sessions has been broken, sustaining the move toward the technical target zone of 15,500 / 16,000. The index reached an intraday record high of 15,043 in TRY terms and closed at a record level of 14,917. The BIST 100 Index gained 2.9%, with the strongest positive contributions coming from BIMAS, AKBNK, ASTOR, ASELS, and THYAO. On the negative side, the main drags on the index were PASEU, RALYH, DSTKF, KTLEV, and ENJSA. Stocks attracting notable inflows over the past week include ASTOR, MGROS, KCHOL, and SISE. Going forward, key support levels to monitor are 14,880 and 14,620, while resistance levels stand at 15,040 and the 15,400 / 15,500 range. As long as the index remains above 14,620, we believe the upward move toward the 15,500 / 16,000 technical target zone is likely to continue. On today’s agenda, domestic markets will focus on CBRT reserves and weekly foreign investor flows, while in the U.S., weekly jobless claims, building permits, and comments from Fed officials will be closely monitored. Türkiye’s 5-year CDS premiums start the day at 231 basis points.