What matters on Thursday, April 7

Both global and domestic markets were surging until this week. However, the expectation that the Federal Reserve would accelerate tightening policies and the concerns over the growth have started to affect the global markets. Although Borsa Istanbul’s BIST 100 Index is experiencing sharp drops, there are profit sales, according to Murat Barisik, Research Director of Ata Yatirim. “We consider the sales when the BIST index remains above 2,300 points as profit sales and perceive them as short-term acquisition opportunities,” said Barisik. He also noted that volatility may increase in the global markets and in the BIST 100 Index in the coming days as companies release their financial statements for the first quarter (Q1). Ata Yatirim suggests adding companies with a solid foundation and story that will increase their Q1 profitability to your investment portfolio. Barisik named TAV Airport, Birlesik Magazalar AS (BIM), Arcelik, Migros, Turk Telekom, and Sisecam as examples.

Turkey aims to become one of the top 10 largest economies in the world, according to President Recep Tayyip Erdogan. Addressing AK Party deputies, President Erdogan said the surge in global commodity prices has been reflected on the Turkish economy. “The war has increased global instability. Exorbitant prices are not only our problem but also a problem for the majority of the European countries. We’ll overcome this difficult period with a method that ensures inflation doesn’t crush people,” Erdogan added.

Reuters said the Biden administration believes a potential sale of F-16 fighter jets to Turkey would be in line with U.S. national security interests and would also serve NATO’s long-term unity, the U.S. State Department said in a letter to Congress that fell short of explicitly supporting the deal.

Turkey found and safely disposed of a sea mine off the Black Sea coast, according to the National Defense Ministry. The area was secured immediately after the mine was spotted by patrol aircraft off of Kocaeli and underwater explosive ordnance disposal units successfully neutralized it, the ministry tweeted.


Parliament will continue to discuss a omnibus legislative proposal on amendment of some laws (2.00 pm).

The Banking Regulation and Supervision Agency (BDDK) and the Central Bank will release weekly money and banking statistics (2.30 pm).

The Ministry of Treasury and Finance will release the Treasury cash realization figures for March (5.30 pm).


>> Zeitenwende

The Ukraine war is permanently changing global security infrastructure. The most obvious change is the awakening of the “sleeping giant,” Germany. Our Foreign Policy Columnist Zeynep Gurcanli analyses the impact of Germany’s defense transformation on its relations with Turkey.

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