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Continuation Of Optimistic Sentiment Is Expected

ByCan İlker
Published 10/30/2017, 06:32 AM
Updated 07/09/2023, 06:31 AM
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* ECB's "dovish" announcements and strong profit reports of the European companies helped to keep the upside momentum and STOXX 600 increased by 1.07% to 393.43 Euros on Friday.
* However, the increased tension in Europe, which includes the independence of Catalonia and the 155th article of Spain, creates sales pressure on the stocks and EUR/USD. EUR/USD came down till 1.1635$. This morning the upside momentum seems to be on the move as the tension is already priced.
* Global positive sentiment keeps going for the US markets parallel to the better than expected growth results and reel wage income data. Wall Street tried new records while the US dollar index lost value due to name "Powell" gained more power regarding the Fed New Chairman.
* Due to the name "Powell", "dovish" sentiment declined the U.S. 10-Year government bonds' yields by 1.19% to
2.399%.
* Asian markets continued their flat opening as Japanese ten-year government bonds' yields declined by 1.45% to 0.068%. The profit reports of the tech companies kept the momentum on the same level.
* The positive sentiment took place in BIST 100 with the help of decreasing USD/TRY and EUR/TRY. However, the high level of the borrowing rate reminds the risks for Turkey still exist.
* According to the low global borrowing rates, the markets seem to keep avoiding/pricing the bad news. Another story will be needed to carry the market to higher levels.
* Therefore, the continuation of the optimistic sentiment should be expected as the known risks don't change.

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