Daily Bulletin

Good morning. While U.S. employment data came in significantly below expectations, expectations of a Fed rate hike in October or December are also declining. U.S. 10-year Treasury yields, after a rapid climb from the 4.90% – 5.00% band to the 5.20% – 5.30% band, have been following a stable course in this region for a week. Alongside these, Wall Street had a positive session on Friday, while U.S. futures are in flat-to-negative territory this morning. European futures are following a similar course, while open markets in Asia are generally on the buy side. Let us note that the global macro data agenda is quiet throughout this week. The course of oil prices, the Fed minutes and U.S. – Iran tensions will be followed. Domestically, although the sharp sell-offs seen after the fund regulations and the subsequent investigations continue on a stock basis, we see stabilization across the market in general. While the BIST 100 index holds above 12 thousand, the XTUMY index, which fell very sharply in a short period, started to rebound toward the end of last week. The BIST 100 Index rose 0.2% to 12,270 points on Friday, with BIMAS, ASTOR, THYAO, MGROS, EREGL contributing to the index, while TUPRS, ASELS, KCHOL, AKBNK, FROTO weighed on the index. Companies that stood out with steady money inflows over the past week were BIMAS, EREGL, HTTBT, GLYHO. From a technical perspective, 12,330 and 12,550 can be monitored as resistance and 12,220 and the 11,900 / 12,000 zone as support in the BIST 100 index. On today's agenda, September inflation data will be followed domestically. We expect annual CPI to decline from 31.5% to 30.1% with a 2.1% monthly increase. Turkey's 5-year CDS premiums start the day at 257 basis points.