Morning Note /
Turkey

Turkey: Stay in defensive names

  • CBRT made direct bond purchases of TRY300mn yesterday, another step to alleviate the acute TRY shortage in the market

  • Fed’s hawkish minutes and fast forwarded rate increase to March will increase jitters in global markets

  • Stay in defensive names (retail, telecom & exporters) and keep YKB and Garanti until 4Q results

Batuhan Ozsahin
ATA Invest
6 January 2022
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