The agenda items of the Biden-Erdogan meeting become clearer as we approach to June 14. The U.S. National Security Advisor Jake Sullivan announced the details of the U.S. President Joe Biden’s visit to Europe starting on June 10 and answered the questions of journalists at the briefing held by the White House Press Secretary Jen Psaki.
Sullivan made an evaluation on the Biden-Erdogan meeting to take place on June 14 during the NATO Summit in Brussels. “Both leaders will have an expansive and comprehensive agenda in regional issues such as the Eastern Mediterranean, Syria, Iraq, Nagorno-Karabakh,” said the U.S. National Security Advisor. Sullivan also added that the role that Turkey will play in Afghanistan, as the U.S. withdraws from the country, will be the part of the agenda, while the parties will also discuss their ‘significant differences’. “President Biden knows President Erdogan very well and these two figures have spent a good amount of time together. Biden and Erdogan look forward to using the opportunity to review the full breadth of the relationship,” Sullivan noted.
We will see how this top-level meeting will affect the money markets. As of today TRY remains at yesterday’s levels against USD and EUR. USD/TRY is traded at 8.59 while EUR/TRY saw 10.46.
Spot gold, which fell below USD 1,900 per ounce due to appreciation efforts of USD, is traded at USD 1,891 this morning. Brent crude declined by 0.81% to USD 70.91 per barrel, compared to yesterday.
The highest gold (ingot) yielded monthly real profit rates were 4.06% and 7.19% in accordance with the Domestic Producer Price Index (D-PPI) and Consumer Price Index (CPI), respectively in May, according to the Turkish Statistical Institute (TurkStat).
The Ministry of Treasury and Finance will release the average maturity and cost of domestic borrowing as well as total domestic debt rollover ratio for May (5.30 pm). Treasury’s domestic debt roll over ratio saw 88.9% in April.
The Ministry of Treasury and Finance will reopen the 12-month (371 days) maturity zero coupon bond and the 6-year (2,352 days) maturity semiannually floating rate note. It will also issue the 10-year maturity CPI Indexed lease certificate through direct sale method.