Daily Bulletin

Good morning. Optimistic expectations regarding the U.S.–Iran situation continue to prevail, and oil prices are easing accordingly. Front-month Brent crude oil prices have fallen below USD 80 per barrel, while trading activity in longer-dated contracts appears to be concentrating around the USD 70–75 range. In addition, expectations for new products and IPOs related to artificial intelligence-focused business models and companies in the U.S. are providing support to U.S. futures markets this morning. European futures are slightly negative, while Asian markets are mixed but generally maintaining a positive tone. In Borsa Istanbul, the market continues to hold around the 14,500 level. Following yesterday’s 0.3% gain in the BIST 100 Index, the top five positive contributors on a daily basis were ASELS, ASTOR, KCHOL, TAVHL, and TRALT. The largest negative contributors were BIMAS, TUPRS, KTLEV, MPARK, and RALYH. Over the past week, stocks attracting consistent capital inflows have included ASELS, ISCTR, AKBNK, PGSUS, THYAO, FROTO, YKBNK, and EREGL. From a technical perspective, the 14,600–14,650 range may be monitored as the first resistance zone, while the 14,250–14,400 range stands out as the initial support area. Today’s agenda includes Eurozone CPI data and the Federal Reserve meeting in the United States. No change in interest rates is expected from the Fed, which will convene this evening for the first time under the chairmanship of Kevin Warsh. Market participants will focus on the updated dot plot projections and guidance regarding the policy outlook. Although market pricing currently points to a potential rate hike by the Fed in March 2027, several institutions, including Citi and UBS, have recently begun to reintroduce expectations for future rate cuts. Finally, Turkey’s 5-year CDS premiums are starting the day at 218 basis points.