Weekly Bulletin - February 20, 2026
Büşra Ceylan
busra.ceylan@isbank.com.tr| Market Indicators | 13-Feb | 19-Feb | Change |
|---|---|---|---|
| BIST-100 Index | 14,181 | 13,804 | 2.7% down |
| TRY 2-Y Benchmark Rate | 35.79% | 36.34% | 55 bp up |
| Türkiye 5-Y CDS Premium | 215 | 219 | 4 bp up |
| MSCI EM Equity Index | 1,555 | 1,563 | 0.5% up |
| US 10-Y Bond Rate | 4.06% | 4.08% | 2 bp up |
| EUR/USD | 1.1867 | 1.1772 | 0.8% down |
| USD/TRY | 43.6706 | 43.7529 | 0.2% up |
| EUR/TRY | 51.8389 | 51.5203 | 0.6% down |
| Gold (USD/ounce) | 5,042 | 4,999 | 0.9 % down |
| Brent Oil (USD/barrel) | 67.8 | 71.7 | 5.8% up |
The positive atmosphere following the indirect negotiations held between the US and Iran was quickly disrupted by statements from the US. These developments drove the course of markets, and oil prices reached their highest level since July. The Fed minutes, meanwhile, increased uncertainties regarding interest rate policy, leading to a strengthening of USD and a decline in the gold prices. According to the data announced on the last trading day of the week, the US economy grew by 2.2% in 2025 and annual core PCE inflation rose to 3% in December. In the Euro Area, February PMI data pointed to a moderate outlook in the manufacturing and services sectors. In Türkiye, the central government budget posted a deficit of 214.5 billion TRY in January. Data regarding the housing and automotive market pointed to a weak outlook in January. The course of geopolitical developments will continue to be closely monitored next week. In the week with an intensive data calendar, sectoral inflation expectations and labor force statistics stand out in Türkiye.
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