Mar 22, 2021 AT 09:08AM

Post CB governor removal over the weekend just 2 days after 200bps rate hike. Infact, This is the 4th time a TCMB Governor has been replaced in the last two years, following the removal of Murat Cetinkaya from his post in July 2019 and the removal of Murat Uysal from his post in November 2020. Here are the key Assets performance this morning.

1) BIST Index -10%
2) Lira Collapsed - $TRY rallied as much at 17% to >8.45 on Sunday night open before settling at 8 handle.
3) Turkey 10YR Bond yield up by 17%
4) Turkey 5Y CDS 425/460 +130
5) IQQ5 GY (iShares MSCI Turkey) plunges 20%