Daily Bulletin

Good morning. After climbing as high as USD 105 yesterday, Brent crude oil prices are falling back to around USD 100 following U.S. President Trump's message that "we will not attack Iran until the November 3 midterm elections". With similar dynamics, the 10-year U.S. Treasury yield is also falling back to around 5.20% this morning after testing 5.35%. With these developments, index futures for the U.S. and European markets, which saw selling yesterday, are also trading in positive territory this morning. Asian markets, on the other hand, are generally weak as they price in yesterday's selling in Western markets this morning, but we are seeing attempts at a rebound after the opening trades. Domestically, in the liquidation processes of the funds, the first interim payments in 17 funds of 3 institutions were transferred to investor accounts. There may be operational delays, but we see that the interim payment process went smoothly overall and that, based on September 16 prices, only two funds posted losses of over 10%, while the others recorded more limited nominal losses or partial gains. While the Borsa Istanbul 100 index rose 0.8% to 12,213 points yesterday, the companies contributing to the index were TUPRS, BIMAS, ASTOR, KCHOL, SAHOL, while those with a negative impact on the index were YKBNK, AKBNK, CCOLA, ISCTR, THYAO. Companies standing out with steady fund inflows over the past week were SAHOL, TRMET, SISE, TAVHL, OTKAR, GLYHO. From a technical perspective, the 11,900 / 12,000 area can be monitored as a support zone in the BIST 100 index. Resistances, on the other hand, are at the 12,300 / 12,400 area. On today's agenda, August industrial production will be monitored domestically. The outlook in intermediate goods imports excluding gold and energy, together with other leading indicators for August, point to the weakness in industrial production having continued in August. In the U.S., the Michigan indices will be followed. Turkey's 5-year CDS premium starts the day at 249 basis points.