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Good morning. Market pricing in Asia is setting the tone for global markets this morning. Apple’s decision to raise product prices due to increasing chip costs, speculation that OpenAI’s IPO may be postponed until 2027, and higher-than-expected inflation data from Japan have triggered sharp selling across Asian equities. U.S. and European equity futures are also trading noticeably lower. In Borsa Istanbul, despite...
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* During the June 12 – 19 period, foreign investors recorded net purchases of USD465.7mn in the equity market and USD339.7mn in the bond market excluding repo transactions. This marked the strongest weekly foreign equity inflow since the week of April 17, while foreign demand for bonds extended into a second consecutive week. Over the same period, foreigners’ share in the total bond stock increased from 5.7% to...
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* The CBT will release weekly foreign portfolio flows, money & banking statistics, and international reserves for the June 12 – 19 period at 14:30 local time today. Based on our calculations derived from the CBT’s analytical balance sheet, we estimate that during the June 12 – 19 period, gross FX reserves rose by US$5bn to US$157.1bn, while net FX reserves increased by US$6.8bn to US$51.8bn. We expect today’s...
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Good morning. Vessel traffic through the Strait of Hormuz and the volume of oil shipments from the region continue to increase. Although diplomatic negotiations between the United States and Iran are progressing with occasional setbacks, the approval by the U.S. Senate of legislation aimed at reducing the likelihood of renewed military confrontation is helping to ease geopolitical tensions. On the other hand,...
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Good morning. As geopolitical tensions continue to ease, oil prices are also extending their decline. Meanwhile, expectations for Fed rate hikes are being brought forward, with market participants increasingly pricing in a series of rate increases beginning as early as September or October. This outlook is weighing on U.S. technology stocks as well as precious metals such as gold and silver. In the U.S., the Dow...
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Good morning. The U.S.–Iran negotiations have begun in Switzerland; however, mutual threats and tensions continue. Geopolitical risks are likely to remain elevated, but markets may find some relief as long as there are no reports of direct military confrontation in the region and shipping traffic through the Strait of Hormuz continues uninterrupted. U.S. and European futures are starting the new week in negative...
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* TURKSTAT will release June Consumer Confidence Index @ 10:00 local time. The consumer confidence index edged up from 85.5 to 85.8 in May, reaching its highest level since March 2025. Looking at the sub-components, the index measuring households’ current financial situation declined from 71.8 to 69.2, while the sub-index reflecting expectations for households’ financial situation over the next 12 months increased...
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