Report
Cagdas Dogan
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BGC Partners: Food for Thought: Rates conundrum…

- Market rates are well below the CBT policy rate… CBT maintained its policy rate at 24% in last week’s MPC meeting as expected; however, key market rates have already dropped sharply over the past three months, trading well below their historic ranges in comparison to the CBT policy rate. 2Y benchmark bonds trade at 18.5%, about 550bps below the CBT rate. Similarly, deposit rates plunged by 300bps over the past three months, standing at around 19.6% or 440bps below the CBT rate. Partial exception here are the swap rates which currently hover at around 23.5% and O/N money market rates that trade at around 22.75%.
Provider
BGC Partners
BGC Partners

BGC has been one of the major market players in Turkish OTC debt, FX and swaps markets since 1998.

We started offering corporate finance and investment banking services to our clients in 2013. We offer a complete range of financial services to help our clients achieve their goals. Our main areas of activity within investment banking are as follows:

  • Mergers & Acquisitions
  • Equity Capital Markets
  • Debt Finance & Advisory

Analysts
Cagdas Dogan

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