Daily Bulletin

Good morning. While geopolitical risks remain in the background due to the continuation of calm following the ceasefire, global equity markets maintain a mildly positive bias. On Borsa Istanbul, although we saw an attempt towards the 9500 level yesterday, the session closed around 9420. As we approach the weekend, cautious positioning ahead of the CHP Congress Court Case expected on June 30, as well as potential...
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Good morning. In global markets, the adage “no news is good news” appears to be driving sentiment. Following the ceasefire between Iran and Israel, there were a few initial violations; however, the absence of any significant reciprocal attacks since then has allowed positive momentum to persist across markets. Investors have primarily been focused on whether the Strait of Hormuz would be closed, whether there would...
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Good morning. The flurry of developments surrounding the Iran–Israel tension continues at full speed. First, late last night, Iran struck the Al Udeid Air Base—located approximately 40 km south of Doha—which is the largest U.S. military base in the Middle East. According to U.S. sources, there were no casualties due to the pre-announced strike, and President Trump expressed his gratitude to Iran for this....
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Good morning. Over the weekend, the feared scenario materialized as the United States launched a direct military intervention against Iran, announcing that it had struck three separate nuclear facilities. Going forward, markets will focus on how Iran will respond to this attack—whether it will target U.S. bases in the region or opt to close the Strait of Hormuz. Domestically, in addition to these developments,...
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Good morning. While concerns that the U.S. may intervene in Iran over the weekend are being priced in, a statement from the White House suggesting that “a decision on military intervention against Iran will be made within two weeks” is providing some relief to global equity markets. These remarks may be tactical in nature and should not be interpreted as a guarantee of non-aggression for two weeks; nevertheless,...
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Good morning. We start the day with two key headlines. The first is the outcome of the Fed meeting concluded last night: as expected, the Fed left interest rates unchanged; however, it revised inflation forecasts upward and growth forecasts downward. Additionally, stronger emphasis was placed on rising uncertainties and inflation risks in the upcoming period. The second topic is the ongoing Iran–Israel tension,...
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Good morning. Geopolitical tensions persist in global markets as the Iran–Israel conflict continues, with the U.S. currently involved at a verbal level but expected to become physically engaged in the near future. Ongoing threats, warnings, and missile attacks make it difficult to see strong buying appetite in equity markets, even if valuations appear attractive. The domestic outlook is no different; Borsa Istanbul...
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Good morning. Global markets continue to focus on geopolitical developments, with the Iran–Israel tension currently topping the agenda. Yesterday, news suggesting conciliatory signals from Iran had supported equity markets during the day; however, we later observed a renewed wave of selling. Unconfirmed reports regarding the Strait of Hormuz—where nearly one-fifth of global oil and natural gas supply transits—and...
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