Daily Bulletin
Tacirler Investment
Good morning. Following higher-than-expected inflation data in the U.S. and the stickiness seen in core figures, the expectation for the Fed's first rate hike was brought forward from January to December. We see that three different Fed officials have given messages in this direction one after another, and that in Reuters polls, all of the more than 100 participants shared an expectation of a rate hike in December. Fitch's expectation of a slowdown in data center investments after the U.S. midterm elections is also generally negative for technology stocks. With the wind changing direction so quickly, U.S. markets saw selling yesterday, while the 10-year U.S. Treasury yield also exceeded 5% again. This morning, as yields ease slightly, U.S. futures are seeing rebound buying. European futures and Asian markets are also generally in positive territory. In Borsa Istanbul, the short-term upward channel formed as we entered November is maintained, but the BIST 100 Index fell 0.43% to 11,661 points yesterday. The companies contributing to the index, which remained within the channel, were TCELL, THYAO, PGSUS, GARAN, MGROS, while those with a negative impact on the index were KCHOL, GUBRF, TRALT, SAHOL, CVKMD. Companies standing out with steady fund inflows over the past week were GARAN, AKBNK, YKBNK, ISCTR, THYAO and EKGYO. The positive divergence in the XBANK Banking index continues; since the end of August, the XBANK index has provided a 34% higher return relative to the XU100. For the BIST 100 index, from a technical perspective, the 11,800 / 11,900 band can be monitored as the first resistance and the 11,450 / 11,500 band as the first support area. Today's agenda is quiet. Turkey's 5-year CDS premium starts the day at 237 basis points.