Turkey 10-yr Government Bond: Total rout


4 JUL 2018

With yields nearing 17% one could easily speak of a total collapse of the bond market. Momentum is obviously very high and the most important projection (@86.52) has been surpassed by a considerable margin. No reliable levels are to be found at this point.

We suggest holding shorts with tight trailing stops and see how far the market can carry. Beware of intervention and extreme moves.

  • Primary trend: negative
  • Outlook: late phase down trend
  • Strategy: hold-short with trailing stops
  • Support: 87.42 / 86.52* / ?
  • Resistance: 87.50 / 90.63+
  • Outlook cancelled/neutralized above 87.50 (!)

Daily chart Turkey 10-year Government Bonds