The contract based on the BIST 30 index for August delivery on the Borsa Istanbul Futures and Options Market (VIOP) started the day at 7,064.50 points with an increase of 0.6%.
The August futures contract was traded at 7,064.50 in the opening session, 0.6% above the previous normal session closing.
The index contract, which followed a buying course yesterday, closed the regular session at 7,025.50 points, 6% above its previous closing. The index contract continued to rise in the evening session, reaching 7,046.75 points.
Analysts stated that a mixed course was followed in the global stock markets, with the macroeconomic data announced around the world pointing to the danger of recession.
Stating that the inverted yield curve in the USA points to the sharpest recession pricing in recent years, analysts emphasized that the difference between the country’s 2-year bond yield and 10-year bond yield has reached its highest level since 1980, with approximately 108 basis points.
Analysts said that the gap between the US 10-year bond yield and the 3-month treasury bond yield fell to the lowest level since February 1980 with 147 basis points, and the yield gap between the two assets is being followed very closely by the US Federal Reserve (Fed) as a recession indicator.
Stating that the data agenda is calm today, analysts noted that 7.100 and 7.200 levels are in the position of resistance and 7,000 and 6.900 points are in the support position in the index contract from a technical point of view.
On the other hand, the New York stock market will be closed for trading today due to the 4th of July Independence Day holiday.
Source: Trthaber / Prepared by Irem Yildiz