Although the banking crisis that started in the USA seems to have subsided for now, investors continue to be cautious after the statements of US Treasury Secretary Janet Yellen.
Janet Yellen, who stated that they do not have a study for all bank deposits on Wednesday, tried to soften the risk perception by adding that they can take additional measures if necessary, in the statements she made in the US House of Representatives yesterday.
While the aforementioned concerns continued to support the bond demand, bond yields in the US carried the downward trend for the third day.
Uncertainties regarding the future monetary policies of the US Federal Reserve (Fed) also make pricing difficult in the markets, while the expectations for interest rate cuts in pricing in the money markets continue to get stronger.
Accordingly, it is predicted that the bank will stop interest rate hikes in the next two meetings and cut interest rates in July.
While there is a mixed course in commodity prices, the ounce price of gold, which tested the $ 2,000 level again yesterday, is at $ 1,991 on the new day, 0.2 percent below the previous close. The barrel price of Brent oil, on the other hand, is trading at $ 75.5, with an increase of 0.6 percent.
Yesterday, the S&P 500 index gained 0.30 percent, the Dow Jones index rose 0.23 percent and the Nasdaq index gained 1.01 percent in the New York stock market. Index futures contracts in the USA started the new day with a limited rise.
While the developments stemming from banks continued to affect the risk appetite negatively on the European side, verbal guidance regarding the steps to be taken by the European Central Bank (ECB) in May began to shape expectations.
Klaas Knot, one of the hawk members of the ECB, who made a statement yesterday, said that the bank will most likely increase interest rates in May, but that he could not make a decision on the size of the interest rate increase.
According to the pricing in the money markets, it is predicted that the ECB will increase interest rates with a 90 percent probability in May.
On the other hand, yesterday, the Bank of England (BoE) increased the policy rate by 25 basis points to 4.25%, in line with the expectations.
In the statement made by the bank, it was stated that the hawkish policies will continue to be implemented until the target of 2 percent in inflation is achieved, and that annual inflation in February was 0.6 percent above the projections.
With these developments, the DAX 40 index in Germany remained flat, while the FTSE 100 index in England decreased by 0.89 percent and the MIB 30 index in Italy decreased by 0.16 percent. In France, the CAC 40 index rose 0.11%. Index futures contracts in Europe started the new day with a decrease.
While a sales-dominated course stands out in Asian stock markets, the data released in Japan limits the downward trend.
Accordingly, the Consumer Price Index (CPI) in the country increased by 3.3 percent in February, in line with expectations. CPI increased by 4.3 percent in January.
In Japan, manufacturing PMI rose to 48.6 in March, services PMI to 54.2 and composite PMI to 51.9.
Close to the closing, Nikkei 225 index decreased by 0.2 percent in Japan, Shanghai composite index decreased by 0.5 percent in China, Kospi index decreased by 0.5 percent in South Korea and Hang Seng index decreased by 0.7 percent in Hong Kong.
Domestically, the BIST 100 index in Borsa Istanbul, which followed a buying-heavy course yesterday, finished the day at 5,061.99 points, 1.22 percent above the previous close.
The Central Bank of the Republic of Turkey (CBRT) kept the policy rate unchanged at 8.50 percent yesterday in line with the expectations.
Dollar/TL is trading at 19,0520 at the opening of the interbank market today, after closing at 19,0323 with a decrease of 0.1 percent yesterday.
Analysts stated that retail sales in the UK and durable goods orders in the USA will be followed together with the manufacturing industry and service sector PMI data worldwide, and noted that technically, the BIST 100 index 5.100 and 5.200 levels became resistance and 5,000 points became support.