Daily Bulletin

Good morning. Global markets are starting the day on a weak footing. U.S. and European futures are in negative territory, while Asian markets are mixed but generally display a risk-off tone. As for the drivers behind the selling pressure, U.S. President Donald Trump’s statement that “the U.S. does not need the Strait of Hormuz to remain open” has pushed oil prices higher. In addition, following recent personnel changes within the Fed, expectations for further rate hikes have become more visibly priced into the market. Risk reduction ahead of the weekend may also be contributing to the cautious sentiment. The BIST 100 closed 0.3% higher yesterday at 14,644 points. The top positive contributors to the index were BIMAS, ASELS, TUPRS, SARKY, and MGROS, while DSTKF, RALYH, EREGL, SISE, and DOHOL weighed negatively on performance. Over the past week, stocks attracting consistent fund inflows included KRDMD, SAHOL, SOKM, ULKER, and TOASO. This morning, we expect a weak opening in line with global markets. Holding above the 14,550 / 14,600 range will be important for the index. Key resistance levels are seen at 14,750 and 14,900. On today’s macro agenda, domestic markets will focus on the Central Bank of the Republic of Türkiye Market Participants Survey and the central government budget balance data. In the U.S., industrial production and capacity utilization figures will be the key data releases to monitor. Türkiye’s 5-year CDS premiums are starting the day at 235 basis points.