• Today is Thanksgiving in the USA. Equity markets are closed and futures products also have early closings. Pricing in the market was generally calm due to the “holiday mode”.
• After the FED minutes released yesterday remained less hawkish, there is a decline in US bond yields. The US 10-year Treasury yield is at 3.70%.
• We followed the decision of the Central Bank of the Republic of Turkey domestically during the day. The bank decided to cut the interest rate by 150 basis points and lowered the policy rate to 9%. In the statement text, the message was given that the end of the interest rate cuts was reached. USDTRY parity maintained its calm stance after the decision and is priced at 18.62 levels.
• The minutes of the European Central Bank were announced. While it was stated in the minutes that the interest rate hike by 75 basis points was supported by the overwhelming majority, many members agreed that the inflation outlook has deteriorated. Discussions on whether the ECB should continue to increase interest rates were also included in the meeting.

There is no clear consensus on a 50 or 75 basis point rate hike for the December meeting.

Speaking during the day, Makhlouf, one of the ECB members, said that there is a need for an interest rate hike in December.

• In Germany, the IFO Business Confidence Index rose slightly compared to the previous month and gave hope signals for the German economy. The data was announced as 84.5 last month, and it was 86.3 in November.