Daily Bulletin

Good morning. As expected, the Federal Reserve cut the target range for the federal funds rate by 25 basis points, lowering it from 4.25–4.50% to 4.00–4.25%. In their projections for the coming period, Fed policymakers foresee a lower policy rate, stronger growth and inflation, and a slightly declining unemployment rate path. Chair Powell emphasized in his remarks that decisions will be taken on a...
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Good morning. Global equity markets remain in wait-and-see mode ahead of the Fed’s interest rate decision, which will be announced at 21:00 local time. In Borsa Istanbul, easing political risk pricing continues to drive the index toward the historic 11,500–11,600 resistance zone. However, as we mentioned yesterday, given the rapid two-day rally, we may observe a loss of momentum here. At the same time, we saw...
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Good morning. Following the Ankara 42nd Civil Court of First Instance’s decision to postpone the case publicly known as the “CHP Congress Case” to October 24, without announcing an additional injunction, the “political risk” pricing has been temporarily suspended, and the BIST 100 Index rebounded to 11,000 with a 6% increase. We also observe that trading volume ranks among the highest in Borsa Istanbul’s history...
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Good morning. Global markets are starting the week on an upbeat note as investors await the Fed’s rate decision. U.S. and European futures, as well as Asian equity markets, are broadly higher this morning. Domestically, markets will be focused on the outcome of the case at Ankara’s 42nd Civil Court of First Instance regarding the CHP’s 38th Ordinary Congress held in November 2023 and the 21st Extraordinary Congress...
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Good morning. In the U.S., CPI came in line with expectations, but weakness in employment data persists, and expectations for Fed rate cuts continue to support global risk appetite. U.S. equities are hitting new highs, while European and Asian markets are also broadly bid. In Borsa Istanbul, despite the CBRT’s 250 basis point rate cut broadly in line with expectations, its emphasis on “rising risks to growth” and...
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Good morning. With one week remaining until the September 17th Fed meeting, yesterday’s U.S. PPI data came in significantly below expectations, once again reinforcing rate-cut pricing. In fact, recently there has been an increase in market participants expecting a 50-basis-point cut from the Fed instead of 25 basis points. Oracle’s announcement yesterday of rising demand for its artificial-intelligence applications...
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Good morning. Global risk appetite remains strong, supported by expectations of Fed rate cuts as well as company-specific news flow. This morning, U.S. and European futures, along with Asian equities, are generally trading higher. Yesterday, Borsa Istanbul ended the day with a limited gain of 0.35%, while sensitivity to political developments continues. In the short-term outlook for the BIST 100 index, 10,400 is...
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Good morning. Expectations of a Fed rate cut continue to support global equity markets. The impact has been so strong recently that, despite the Bayrou Government in France losing a confidence vote for the first time in 67 years at the ruling party’s own request, the EUR/USD pair moved toward 1.1770 while gold prices advanced above USD 3,650 per ounce. Meanwhile, the decline in U.S. Treasury yields continues....
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