Daily Bulletin

Good morning. A cautious optimism continues to prevail in global equity markets. While the United States maintains a moderate tone regarding customs tariffs, the legislative process concerning the much-anticipated "tax cuts" since the presidential elections is reportedly making progress. According to statements from President Trump, the U.S. is working on what is set to be the largest tax cut package in...
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Good morning. Although progress in tariff negotiations between the United States and China, along with a 90-day extension, has supported global equity markets, U.S. President Trump’s remarks that the deal does not cover the automotive, steel, aluminum, and chemical sectors, and his warning that tariffs could be reinstated if China fails to meet its commitments, are capping global risk appetite. Following strong...
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Good morning, Progress in U.S.–China trade negotiations and the ceasefire agreement between Pakistan and India are providing support to global equity markets this morning. In particular, expectations are rising that a potential U.S.–China deal could bring the prolonged trade war tensions—an issue that has weighed on global markets since the beginning of the year—closer to a resolution. However, it is important to...
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Good morning. Despite the ongoing tensions between Pakistan and India, global risk appetite is positive this morning. Speculation that the United States may reach a trade agreement with the United Kingdom is fueling buying interest in U.S. and European futures, while purchases continue across Asian markets as well. In contrast, Borsa Istanbul remains under pressure due to the persistence of a high interest rate...
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Good morning. Despite the ongoing tensions between Pakistan and India, global risk appetite is positive this morning. Speculation that the United States may reach a trade agreement with the United Kingdom is fueling buying interest in U.S. and European futures, while purchases continue across Asian markets as well. In contrast, Borsa Istanbul remains under pressure due to the persistence of a high interest rate...
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Good morning. We start the day with news that the tension between Pakistan and India has escalated into open conflict, including missile strikes, downed aircraft, casualties, and injuries. While this confrontation between two nuclear powers has not yet had a significant early impact on the markets, if the tensions escalate further, negative repercussions on the markets are likely to follow. This morning, the global...
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Good morning. The unprecedented nine-day uninterrupted rally in the U.S. stock markets over the past 20 years came to an end yesterday, as indices returned to the levels seen on April 2 when customs tariffs were announced globally. Contributing factors to the sell-off included Warren Buffett’s announcement that he will step down as CEO of Berkshire Hathaway, former President Trump’s plan to impose a 100% tariff on...
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Good morning. On Saturday, the Central Bank of the Republic of Turkey (CBRT) introduced several adjustments to the macroprudential framework with the objective of “supporting the transition to the Turkish lira.” We expect these changes to have supportive effects on foreign exchange reserves, incentivize TL deposits, and exert modest upward pressure on domestic deposit rates. The potential impact on Borsa Istanbul,...
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