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| Money
Markets |
On Wednesday bond market experienced a purchase weighted opening to the day. Forex market on the other hand followed a purchase weighted course. Inflation report announced by CBRT was the focus point of the financial markets. Low inflation expectations of CBRT created additional purchases at the bond market and average compound interest rates dropped by 20 to 38 base points to historical lows. Additionally CBRT governor, Yılmaz stated that CBRT was trying to decide whether there was a need to start making foreign currency purchase auctions.
On Friday Treasury will announce Its August refinancing and redemption program.
New market benchmark, May 11th, 2011 maturity bond's average compound interest rate dropped to 11,13 % level at the same day termed transactions and dropped to 10,92 % level at the next day termed trading. Trading volume realized at USD 2,35 bn. level. January 15th, 2030 maturity Turkey Eurobond's sales price realized at USD 156,25 level.
Average overnight interest rate at The ISE Repo Market realized at 8,25 % and trading volume realized at USD 6,91 bn. level. Annual compound funding cost of borrowing from The Central Bank of Turkey is at 8,599 % level.
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