Weekly Bulletin - July 17, 2026
Alp Ege Küpelioğlu
alp.kupelioglu@isbank.com.tr| Market Indicators | 10-Jul | 16-Jul | Weekly Change |
|---|---|---|---|
| BIST-100 Index | 14,321 | 14,251 | 0.5% down |
| TRY 2 Year Benchmark Rate | 40.72% | 41.15% | 43 bp up |
| Türkiye 5-Year CDS Premium | 226 | 231 | 5 bp up |
| MSCI EM Equity Index | 1,691 | 1,664 | 1.6% down |
| US 10-Year Bond Rate | 4.57% | 4.57% | 0 bp up |
| EUR/USD | 1.1413 | 1.1441 | 0.2% up |
| USD/TRY | 46.9627 | 47.0838 | 0.3% up |
| EUR/TRY | 53.6091 | 53.9691 | 0.7% up |
| Gold (USD/ounce) | 4,120 | 3,970 | 3.6% down |
| Brent Oil (USD/barrel) | 76.0 | 84.2 | 10.8% up |
As uncertainty in the Middle East persisted this week, inflation data released in the U.S. became the main focus of the markets. While high geopolitical risks continued to exert upward pressure on oil prices, U.S. inflation indicators, which painted a more positive picture than expected, strengthened expectations that the Fed would keep its policy rate unchanged at its July meeting. In Asia, while China’s economy grew at an annual rate of 4.3% in the second quarter—slower than expected—the Bank of Korea raised interest rates for the first time since 2023. Domestically, the current account posted a deficit of 1.5 billion USD in May, while the central government budget recorded a surplus of 114.2 billion TRY in June. Retail sales rose by 13.7% yoy in May, while the 15.8% increase in home sales was particularly notable. With a busy data calendar ahead, monetary policy meetings by the ECB, the PBoC, and the CBRT will be closely monitored next week. International rating agencies Fitch and Moody’s are expected to publish their assessments of the Turkish economy on July 17 and July 24, respectively.
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