ULUSLARARASI SERMAYE PİYASALARI - GÜNLÜK RAPOR 19/09/2018

1 ULUSLARARASI SERMAYE PİYASALARI - GÜNLÜK RAPOR 19/09/2018 Eurotahvil Piyasaları ABD on yıllık hazine tahvilleri 3% getiri seviyesinin hemen altında güne başladı, gün genelinde satıcılı seyir izlenirken, Çin in uygulayacağı vergiye dair haberler hazine tahvillerinde satışları hızlandırarak 3.05% getiri seviyesine hareket sağladı ve Mayıs ayından bu yana en yüksek seviye görüldü, uzun vade kıymetlerde ise 3.20% getiri seviyesine ulaşıldı. Türkiye hazine eurotahvilleri günü hafif satıcılı geçirdi, USD/TRY de yaşanan yükseliş akşam saatlerinde terse dönse de, beş yıllık CDS priminin 440 seviyesine yükselmesi hazine kıymetlerinde bir miktar satışa etki etti, 2025 vadeli hazine kıymeti 8% getiri seviyesine yükselirken 2028 vadeli kıymette 88 seviyesinin altına çekildi. Finansallarda ise Yapı Kredi kıymetlerinde alımlar öne çıkarken 2026 vadeli Sub kıymet74 seviyesine yükseldi. ABD & Avrupa Hisse Senedi Piyasaları 18 Eylül Salı günü Avrupa ve ABD tarafında ekonomik veri takvimi sakin olurken gündemi etkileyecek bir açıklama olmadı. Avrupa hisse endeksleri genel olarak işlem günü artıda sonlandırırken İngiltere FTSE 100 endeksinde hafif ekside kapanış dikkat çekti. CAC 40 endeksi0.28% artıda günü sonlandırırken DAX endeksinde 0.51% kazanım oldu. DAX endeksi içerisindeki tüm sektör grupları kazanımdan nasibini alırken telekomünikasyon sektöründe primlenme öne çıktı. Endeksin piyasa değeri en yüksek hisselerinden olan SAP 0.29% primli kapanış gerçekleştirirken Allianz hisselerinde 0.21% artıda kapanış gerçekleşti. İngiltere tarafında temel maddeler ve enerji sektörü hisselerindeki kazanım endeksin aşağı hareketini sınırlarken Shell hisselerindeki 1.42% kazanım dikkat çekti. Finansallarda ise satıcılı bir gün oldu. HSBC hissesigünü 0.73% ekside sonlandırdı. ABD tarafında $200 milyarlık Çin ürününe daha vergi konulmasının ardından haftanın ilk işlem günü satıcılı geçmişti, bugün dünküsatış geri alınırken ABD hisse endekslerinde kapanış primli oldu ve Dow Jones endeksi 0.72%, S&P 500 endeksi 0.54%, Nasdaq endeksi ise 0.76% primli olarak günü sonlandırdı. Endüstriyeller ve tüketici ürünlerindeki primlenme endeksleri yukarı taşırken bilgi teknolojileri sektöründe de 0.70% e yakın değerlenme görüldü. Amazon hisseleri 1.73% değer kazanırken Apple hisselerindeki artış seans kapanışına yakın geri verildive hisselerdeki primlenme 0.17% oldu. Güne 217.68 seviyesinden başlayan hisseler gün içerisinde 221.80 e kadar yükselse de sonrasında bu ayındip seviyelerinde seyretmeye devam etti. Microsoft hisselerinde 113.70 seviyelerine yükseliş olurken hisse bu ayın tepe noktası olan 113.73 yakınlarından satışla karşılaştı. 19 Eylül Çarşamba günü sabah saatlerinde Japonya Merkez Bankası toplantısının sonuçları öne çıkarken günün devamında İngiltere tarafından gelecek olan CPI. PPI ve RPI verileri izlenecek. ABD ekonomik takviminde ise öğleden sonra açıklanacak olan MBA mortgage başvuruları, cari denge, konut başlangıçları ve inşaat izinleri verileri önemli olacak. Emtia & FX Vadeli Kontratları (Futures) EUR/USD 1.1680 seviyesinde güne başladı, seans boyunca inişli çıkışlı bir seyir izleyen EUR/USD ekonomik veri akışının zayıf olması ile yön konusunda kararsız hareketler gerçekleştirirken, Çin in ABD ürünlerine ekstra $60 milyarlık vergi uygulayacağı haberinin ardından 1.1720 ye yükseldi, ABD on yıllık tahvil getirilerinin 3% nin üzerine çıkması ile yönünü aşağı çeviren parite 1.1650 bölgesine çekildi ve seansı günün en düşük seviyelerinde noktaladı. Spot altın $1,200 bölgesinde açılış yaptı, Asya seansını hafif satıcılı geçiren altın USD endeksine paralel hareketler gösterdi,gün içi en düşük 1,196 yı gördükten sonra alımlar gören ve Çin in uygulayacağı vergi sonrası $1,203 e yükselen altın, USD nin değer kazanmaya başlaması ile kazanımları geri vererek tekrar $1,200 ün altına çekildi ve günü hafif kayıpla noktaladı. $68.50 seviyesinde güne başlayan Ekim vade WTI petrol kontratları, S.Arabistan ın Brent petrol fiyatının $80 üzerinde olmasındanrahatsız olmadığını belirtmesinin ardından $70 seviyesine yükseldi, Çin den gelen haber sonrası bir alım dalgası daha yaşayan WTI $70.50 bölgesini test ettikten sonra satış görerek $69.50 seviyesine çekildi, tekrar gelen alımlara paralel WTI $69.80 bölgesinde kapanış yaparken,kasım vade Brent kontratı da yaklaşık 1.2% yükselişle $79 seviyesinden kapanış gerçekleştirdi. Benchmark Tahviller Fiyat Getiri Türkiye 88.704 7.775 Brezilya 88.625 6.215 Rusya 94.221 5.058 Güney Afrika 93.270 5.908 ABD 98.469 3.055 Almanya 97.755 0.482 5 Yıllık CDS GIP Değişim (bps) Türkiye 440 8 Brezilya 281-4 Rusya 155-6 Güney Afrika 213-6 Hisse Senedi Piyasaları Kapanış Değişim % Dow Jones 26,246.96 0.71 S&P 500 2,904.31 0.54 NASDAQ 7,956.11 0.76 Almanya 12,173.56 0.13 İngiltere 7,320.09 0.27 Fransa 5,374.09 0.19 Japonya 23,672.52 1.08 Şangay 2,730.85 1.14 Hong Kong 27,423.44 1.25 Brezilya 78,313.96 1.99 Emtia Piyasaları Kapanış Değişim % Petrol 69.850 1.36 Altın 1,198.380-0.26 Gümüş 14.155-0.21 Bakır 6,086.00 2.37 Döviz Dünkü Seviye Değişim % EUR/USD 1.1667-0.14 USD/JPY 112.3600 0.46 USD/CAD 1.2974-0.53 GBP/USD 1.3148-0.07 AUD/USD 0.7219 0.52 NZD/USD 0.6583 0.08 USD/CNH 6.8504-0.13 USD/TRY 6.3531 1.13 USD/RUB 67.0772-1.03 USD/ZAR 14.7932-0.08 Futures Dünkü Seviye Değişim % Dow Jones Mini 26,301.00 0.76 S&P 500 Mini 2,911.75 0.54 DAX 12,144.00 0.36 EUR/USD 1.1749-0.17 TREASURY 10Y 118.80-0.28

2 Şirket Adı ISINKodu Para Birimi Kupon Vade Alış Satış Alış Getiri Satış Getiri Kredi Notu (Moody's / Fitch) Miktar (M) Minimum Fiyat Performansı 1A ( ) 1Y( ) Türkiye (Sukuk) US900123BD15 USD 7.00 11/03/2019 99.836 100.336 7.35 6.26 Ba3/BB 1,500 100,000 1.07% -5.91% US900123BF62 USD 7.50 07/11/2019 99.804 100.304 7.67 7.20 Ba3/BB 1,500 100,000 1.44% -8.73% US900123AX87 USD 7.00 05/06/2020 98.895 99.894 7.69 7.06 Ba3/BB 2,000 2,000 2.40% -9.85% US900123BH29 USD 5.63 30/03/2021 95.353 96.095 7.68 7.35 Ba3/BB 2,000 100,000 3.30% -10.49% US900123BY51 USD 5.13 25/03/2022 91.879 92.878 7.81 7.47 Ba3/BB 1,000 200,000 3.70% -12.34% US900123BZ27 USD 6.25 26/09/2022 94.104 95.103 8.00 7.69 Ba3/BB 2,500 200,000 4.62% -14.17% US900123CA66 USD 3.25 23/03/2023 83.854 84.853 7.54 7.25 Ba3/BB 1,500 200,000 4.86% -11.99% US900123CF53 USD 5.75 22/03/2024 90.519 91.517 7.91 7.67 Ba3/BB 2,500 200,000 5.01% -15.36% US900123AW05 USD 7.38 05/02/2025 96.374 97.372 8.11 7.91 Ba3/BB 3,250 2,000 4.19% -17.54% US900123CJ75 USD 4.25 14/04/2026 80.931 81.758 7.61 7.45 Ba3/BB 1,500 200,000 4.49% -16.05% US900123CK49 USD 4.88 09/10/2026 83.000 83.854 7.75 7.59 Ba3/BB 3,000 200,000 4.74% -17.11% US900123CP36 USD 5.13 17/02/2028 82.732 83.357 7.74 7.64 Ba3/BB 2,000 200,000 5.10% N/A US900123CQ19 USD 6.13 24/10/2028 89.450 90.200 7.64 7.53 Ba3/BB 2,000 200,000 N/A N/A US900123CL22 USD 6.00 25/03/2027 88.598 89.596 7.86 7.69 Ba3/BB 3,250 200,000 4.87% -17.81% US900123AL40 USD 11.88 15/01/2030 127.150 128.435 8.15 8.00 Ba3/BB 1,500 1,000 6.41% -20.27% US900123AT75 USD 8.00 14/02/2034 97.765 98.761 8.26 8.14 Ba3/BB 1,500 2,000 3.73% -21.94% US900123AY60 USD 6.88 17/03/2036 87.910 88.906 8.19 8.07 Ba3/BB 2,750 2,000 4.15% -22.61% US900123BB58 USD 7.25 05/03/2038 90.685 91.650 8.22 8.11 Ba3/BB 1,000 2,000 2.63% -23.34% US900123BG46 USD 6.75 30/05/2040 85.566 86.562 8.18 8.07 Ba3/BB 2,000 100,000 3.64% -23.83% US900123BJ84 USD 6.00 14/01/2041 79.027 79.958 8.03 7.93 Ba3/BB 3,000 200,000 2.69% -23.54% US900123CB40 USD 4.88 16/04/2043 70.645 71.490 7.51 7.41 Ba3/BB 3,000 200,000 1.99% -20.86% US900123CG37 USD 6.63 17/02/2045 83.445 84.360 8.16 8.06 Ba3/BB 3,000 200,000 3.01% -24.77% US900123CM05 USD 5.75 11/05/2047 75.875 76.890 7.88 7.77 Ba3/BB 3,500 200,000 2.78% -23.11% XS0285127329 EUR 5.88 02/04/2019 100.340 100.780 5.07 4.25 Ba3/BB 1,250 50,000 0.61% -6.93% XS0503454166 EUR 5.13 18/05/2020 99.475 100.474 5.45 4.80 Ba3/BB 2,000 50,000 2.28% -9.57% XS0993155398 EUR 4.35 12/11/2021 97.710 98.535 5.15 4.86 Ba3/BB 1,250 100,000 2.83% -10.59% XS1057340009 EUR 4.13 11/04/2023 95.016 95.969 5.38 5.13 Ba3/BB 1,000 100,000 3.80% -11.68% XS1629918415 EUR 3.25 14/06/2025 87.615 88.613 5.50 5.30 Ba3/BB 1,000 100,000 7.19% -12.91% XS0975124180 USD 4.56 10/10/2018 99.641 100.266 11.45-0.47 Ba3/BB 1,250 200,000-0.14% -2.07% XS1303467077 USD 4.25 08/06/2021 91.462 92.212 7.80 7.47 Ba3/BB 1,000 200,000 0.81% -9.61% XS1586385178 USD 5.00 06/04/2023 88.395 89.395 8.11 7.82 Ba3/BB 1,250 200,000 1.63% -14.32% XS1141043296 USD 4.49 25/11/2024 83.164 84.164 7.99 7.76 Ba3/BB 1,000 200,000 2.07% -16.34% AKBANK XS1111101314 USD 4.00 24/01/2020 94.125 95.125 8.73 7.89 B1/BB- 500 200,000 3.43% -6.34% AKBANK USM0375YAK49 USD 5.00 24/10/2022 87.875 88.875 8.57 8.26 B1/BB- 500 150,000 7.16% -13.64% AKBANK XS1210422074 USD 5.13 31/03/2025 84.000 85.500 8.36 8.02 B1/BB- 500 200,000 10.53% -15.58% AKBANK XS1574750292 USD 7.20 16/03/2027 71.000 75.500 13.47 12.39 Caa1/B+ 500 200,000 15.45% -32.86% AKBANK XS1772360803 USD 6.80 27/04/2028 58.500 63.500 15.32 13.95 Caa1/B+ 400 200,000-8.59% N/A ALTERNATİFBANK XS1089556358 USD 3.13 22/07/2019 96.000 98.000 8.16 5.60 NA/A 250 200,000 3.23% N/A ALTERNATİFBANK XS1396282177 USD 8.75 16/04/2026 66.196 66.946 18.28 18.04 B2/BB- 300 200,000 8.23% -36.93% ANADOLU EFES XS0848940523 USD 3.38 01/11/2022 89.000 92.000 6.46 5.58 Ba2/NA 500 200,000 4.71% -9.30% ARÇELİK XS1109959467 EUR 3.88 16/09/2021 94.500 96.500 5.94 5.17 NA/BB+ 350 100,000 2.72% -11.48% ARÇELİK XS0910932788 USD 5.00 03/04/2023 87.250 89.250 8.44 7.86 NA/BB+ 500 200,000 2.05% -15.60% COCA-COLA XS0975576165 USD 4.75 01/10/2018 99.000 100.000 40.25 4.65 Ba2/BBB- 500 200,000 0.25% -3.37% COCA-COLA XS1577950402 USD 4.22 19/09/2024 92.250 94.250 5.76 5.35 Ba2/BBB- 500 200,000 6.65% -9.20% CREDIT EUROPE BANK XS1706923148 USD 7.25 09/11/2027 NA NA Invalid Ove A Invalid Ove B2/B+ *+ 150 200,000 N/A N/A EXPORT CREDIT BANK XS0774764152 USD 5.88 24/04/2019 97.500 98.500 10.32 8.51 B1/NA 750 200,000 6.56% -6.25% EXPORT CREDIT BANK XS1345632811 USD 5.38 08/02/2021 91.000 93.000 9.69 8.69 B1/BB- 500 200,000 5.81% -12.81% EXPORT CREDIT BANK XS1028943089 USD 5.00 23/09/2021 88.500 90.000 9.49 8.86 B1/BB- 500 200,000 9.94% -13.87% EXPORT CREDIT BANK XS1684378208 USD 4.25 18/09/2022 84.000 86.000 9.12 8.46 B1/BB- 500 200,000 12.00% N/A EXPORT CREDIT BANK XS1496463297 USD 5.38 24/10/2023 85.500 87.000 8.98 8.58 B1/BB- 500 200,000 9.62% -17.79% EXPORT CREDIT BANK XS1814962582 USD 6.13 03/05/2024 86.500 88.500 9.26 8.76 B1/BB- 500 200,000 9.49% N/A FİBABANKA XS1711581337 USD 6.00 25/01/2023 75.000 80.000 13.84 12.04 NA/B+ - 200,000 15.38% N/A FİBABANKA XS1386178237 USD 7.75 24/11/2027 52.000 56.000 19.15 17.75 NA/B- 300 200,000-13.33% N/A FİNANSBANK XS1063442484 USD 6.25 30/04/2019 99.250 100.250 7.52 5.81 Ba3/BB 500 200,000 1.79% -4.80% FİNANSBANK XS1613091500 USD 4.88 19/05/2022 90.500 92.500 7.91 7.24 Ba3/BB 750 200,000 11.04% -9.68% GARANTİ XS1084838496 EUR 3.38 08/07/2019 96.000 97.000 8.70 7.32 B1/BB 500 100,000 5.49% -7.58% GARANTİ XS1057541838 USD 4.75 17/10/2019 96.000 97.500 8.73 7.21 B1/BB 750 200,000 5.49% -6.34% GARANTİ USM8931TAA71 USD 6.25 20/04/2021 93.500 95.500 9.13 8.22 B1/BB 500 200,000 5.06% -12.41% GARANTİ USM8931TAF68 USD 5.25 13/09/2022 89.750 91.750 8.33 7.70 B1/BB 750 200,000 10.80% -13.08% GARANTİ XS1576037284 USD 5.88 16/03/2023 90.000 91.000 8.61 8.32 B1/BB 500 200,000 10.43% -14.29% GARANTİ XS1617531063 USD 6.13 24/05/2027 75.500 77.500 11.17 10.75 B3/BB- 750 200,000 16.15% -25.25% GLOBAL LİMAN XS1132825099 USD 8.13 14/11/2021 90.500 95.500 11.82 9.81 B2/BB- 250 200,000 4.02% -12.98% HALK BANKASI XS1069383856 USD 4.75 04/06/2019 84.000 88.000 31.85 24.28 B2/BB- 500 200,000 12.00% -16.73% HALK BANKASI XS0882347072 USD 3.88 05/02/2020 77.000 78.500 24.61 23.01 B2/BB- 750 200,000 4.05% -21.43% HALK BANKASI XS1188073081 USD 4.75 11/02/2021 69.500 72.500 21.78 19.72 B2/BB- 500 200,000 5.30% -29.62% HALK BANKASI XS1439838548 USD 5.00 13/07/2021 67.000 70.990 21.15 18.73 B2/BB- 500 200,000 1.52% -32.49% İŞ BANKASI XS0808632250 USD 3.75 10/10/2018 98.750 100.250 27.32-0.97 B2/BB- 750 200,000 5.61% -1.45% İŞ BANKASI XS0982644774 USD 5.50 21/04/2019 96.250 97.250 12.34 10.46 B2/BB- 500 200,000 6.94% -6.44% İŞ BANKASI XS1121459074 USD 5.00 30/04/2020 87.750 89.750 13.74 12.20 B2/BB- 750 200,000 9.69% -13.97% İŞ BANKASI XS1079527211 USD 5.00 25/06/2021 81.250 82.750 13.33 12.58 B2/BB- 750 200,000 8.33% -19.75% İŞ BANKASI XS1390320981 USD 5.38 06/10/2021 81.750 83.250 12.80 12.12 B2/BB- 750 200,000 8.28% -19.85% İŞ BANKASI XS1508390090 USD 5.50 21/04/2022 80.000 82.000 12.60 11.80 B2/BB- 600 200,000 3.90% -21.76% İŞ BANKASI XS0847042024 USD 6.00 24/10/2022 69.000 70.500 16.77 16.12 Caa1/B+ 1,000 200,000 15.00% -32.10% İŞ BANKASI XS1003016018 USD 7.85 10/12/2023 70.000 72.000 16.67 15.94 Caa2/B+ 400 200,000 22.81% -34.96% İŞ BANKASI XS1578203462 USD 6.13 25/04/2024 79.750 81.250 11.07 10.66 B2/BB- 1,250 200,000 11.93% -22.57% İŞ BANKASI XS1623796072 USD 7.00 29/06/2028 60.750 63.250 15.29 14.62 Caa2/B+ 500 200,000 10.45% N/A

3 KOÇ HOLDİNG XS0922615819 USD 3.50 24/04/2020 94.250 95.250 7.39 6.69 Ba2/NA 750 200,000 3.57% -6.91% KOÇ HOLDİNG XS1379145656 USD 5.25 15/03/2023 90.910 92.410 7.68 7.26 Ba2/NA 750 200,000 6.33% -14.74% MERSİN LİMAN XS0957598070 USD 5.88 12/08/2020 99.000 101.000 6.44 4.71 Ba2/BB+ 450 200,000 8.79% -5.49% ODEABANK XS1655085485 USD 7.63 01/08/2027 61.000 64.000 16.69 15.80 Caa2/B- 300 200,000 22.00% -37.44% PETKİM XS1747548532 USD 5.88 26/01/2023 89.000 91.000 8.98 8.38 B1/B 500 200,000 8.54% N/A RONESANS XS1807502668 USD 7.25 26/04/2023 65.000 75.000 18.99 14.96 Ba3/BB 300 200,000-18.75% N/A ŞİŞECAM XS0927634807 USD 4.25 09/05/2020 94.000 96.000 8.25 6.88 Ba2/BB+ 500 200,000 5.62% -7.84% TSKB XS1117601796 USD 5.38 30/10/2019 91.000 92.500 14.44 12.83 B2/BB- 350 200,000 4.60% -11.22% TSKB XS1219733752 USD 5.13 22/04/2020 83.000 84.000 17.89 17.05 B2/BB- 350 200,000 1.22% -18.33% TSKB XS1412393172 USD 4.88 18/05/2021 79.000 81.000 14.69 13.62 B2/BB- 300 200,000 17.91% -21.39% TSKB XS1750996206 USD 5.50 16/01/2023 77.000 80.000 12.55 11.50 B2/BB- 350 200,000 18.46% N/A TSKB XS1584113184 USD 7.63 29/03/2027 61.000 65.000 16.85 15.65 Caa2/B+ 300 200,000 16.19% -41.63% TURKCELL XS1298711729 USD 5.75 15/10/2025 88.250 90.250 7.95 7.55 Ba2/BB+ 500 200,000 1.44% -18.10% TURKCELL XS1803215869 USD 5.80 11/04/2028 85.500 87.000 8.00 7.75 NA/BB+ 500 200,000 3.01% N/A TÜPRAŞ XS1686704948 USD 4.50 18/10/2024 83.000 84.500 8.10 7.75 Ba2/BB+ 700 200,000 7.79% N/A TÜRK TELEKOM XS1028952155 USD 3.75 19/06/2019 92.000 95.000 15.51 10.91 NA/BB+ 500 200,000 1.10% -9.54% TÜRK TELEKOM XS1028951264 USD 4.88 19/06/2024 82.500 84.000 8.82 8.44 NA/BB+ 500 200,000 3.13% -19.90% VAKIFLAR BANKASI XS0987355939 USD 5.00 31/10/2018 97.500 99.000 28.23 14.10 B1/BB- 500 200,000 5.98% -3.70% VAKIFLAR BANKASI XS1077629225 EUR 3.50 17/06/2019 91.625 94.125 16.06 12.07 B1/BB- 500 100,000 1.81% -10.61% VAKIFLAR BANKASI XS1403416222 EUR 2.38 04/05/2021 93.513 94.763 5.08 4.54 Ba1/NA 500 100,000 2.11% -6.95% VAKIFLAR BANKASI XS1508914691 USD 5.50 27/10/2021 82.750 84.250 12.36 11.70 B1/BB- 500 200,000 6.77% -19.27% VAKIFLAR BANKASI XS1622626379 USD 5.63 30/05/2022 80.500 82.000 12.35 11.77 B1/BB- 500 200,000 4.55% -21.18% VAKIFLAR BANKASI XS0849728190 USD 6.00 01/11/2022 69.000 73.000 16.72 15.04 Caa1/B+ 672 200,000 13.11% -31.77% VAKIFLAR BANKASI XS1760780731 USD 5.75 30/01/2023 79.500 81.500 11.91 11.23 B1/BB- 650 200,000 7.43% N/A VAKIFLAR BANKASI XS1175854923 USD 6.88 03/02/2025 62.250 64.250 18.31 17.59 Caa2/B+ 500 200,000 9.21% -39.19% VAKIFLAR BANKASI XS1551747733 USD 8.00 01/11/2027 63.000 67.990 16.30 14.92 Caa2/B+ 228 200,000 5.00% -40.07% YAPI KREDİ XS0994815016 USD 5.25 03/12/2018 96.750 100.000 21.87 5.17 B1/BB 500 200,000 6.32% -5.15% YAPI KREDİ XS1028938915 USD 5.13 22/10/2019 92.000 95.500 13.26 9.58 B1/BB 550 200,000 5.75% -10.02% YAPI KREDİ XS0874840688 USD 4.00 22/01/2020 90.000 91.000 12.34 11.44 B1/BB 500 200,000 7.78% -9.89% YAPI KREDİ XS0861979440 USD 5.50 06/12/2022 69.000 72.000 15.87 14.64 B2/BB- 1,000 200,000 20.00% -30.30% YAPI KREDİ XS1571399754 USD 5.75 24/02/2022 82.500 84.000 12.14 11.53 B1/BB 600 200,000 9.27% -19.90% YAPI KREDİ XS1634372954 USD 5.85 21/06/2024 80.000 81.500 10.58 10.17 B1/BB 500 200,000 14.29% -21.18% YAPI KREDİ XS1376681067 USD 8.50 09/03/2026 71.000 73.000 16.47 15.89 B3/BB- 500 200,000 14.52% -34.41% YAPI KREDİ XS1788516679 USD 6.10 16/03/2023 82.000 84.000 11.33 10.68 B1/BB 500 200,000 11.56% N/A YAŞAR HOLDİNG XS1132450427 USD 8.88 06/05/2020 52.500 62.500 57.54 43.25 Caa1/B- 250 200,000-19.23% -50.00% ZİRAAT BANKASI XS1083936028 USD 4.25 03/07/2019 93.000 94.000 13.97 12.51 B1/BB- 750 200,000 3.33% -7.69% ZİRAAT BANKASI XS1223394914 USD 4.75 29/04/2021 85.250 86.750 11.45 10.71 B1/BB- 500 200,000 9.29% -16.22% ZİRAAT BANKASI XS1605397394 USD 5.13 03/05/2022 83.750 85.730 10.65 9.91 B1/BB- 600 200,000 8.06% -17.89% ZİRAAT BANKASI XS1691349010 USD 5.13 29/09/2023 82.000 83.980 9.74 9.18 B1/BB- 500 200,000 7.89% N/A (Sukuk) ALBARAKA XS1082151868 USD 6.25 30/06/2019 97.000 98.000 10.35 8.96 NA/NA 350 200,000 0.00% -4.79% ALBARAKA XS1301525207 USD 10.50 30/11/2025 86.000 90.990 14.59 13.39 NA/NA 250 200,000-4.44% -17.31% BANK ASYA XS0907295942 USD NA 28/03/2023 30.000 40.000 NA NA WR/NA 250 200,000 0.00% 20.00% KUVEYT TÜRK XS1079236169 USD 5.16 26/06/2019 95.500 98.000 11.46 7.89 NA/BB 500 200,000 1.60% -7.39% KUVEYT TÜRK XS1505149325 USD 5.14 02/11/2021 90.000 92.990 8.88 7.71 NA/BB 500 200,000 0.00% -13.67% KUVEYT TÜRK XS1323608635 USD 7.90 17/02/2026 80.000 84.990 13.35 12.17 NA/BB- 350 200,000 0.00% -23.99% TÜRKİYE FİNANS XS1057852912 USD 5.38 24/04/2019 99.000 99.500 7.12 6.24 NA/BB 500 200,000 0.51% -4.00% Brezilya US105756BT66 BRL 8.50 05/01/2024 97.000 97.375 9.44 9.34 Ba2/BB- 3,150 350,000-4.43% -4.60% US105756AR10 USD 8.88 15/04/2024 118.000 118.500 5.12 5.02 Ba2/BB- 1,029 1,000-2.68% -8.35% US105756BV13 USD 4.25 07/01/2025 92.950 93.450 5.59 5.49 Ba2/BB- 4,300 200,000-2.52% -8.29% US105756AE07 USD 10.13 15/05/2027 128.900 129.900 5.82 5.70 Ba2/BB- 838 1,000-2.53% -11.71% US105756BB58 USD 8.25 20/01/2034 113.400 114.250 6.83 6.74 Ba2/BB- 1,502 1,000-4.30% -13.53% BANCO DO BRASIL USP3772WAF97 USD 9.00 PERP 93.750 94.500 9.86 9.78 B2/NA 2,170 200,000-5.78% -12.38% BRASKEM USG1315RAD38 USD 5.75 15/04/2021 102.750 103.250 4.60 4.40 Ba1/BBB- 1,000 200,000-0.48% -3.97% BRASKEM USG1315RAG68 USD 5.38 02/05/2022 101.500 102.250 4.92 4.69 Ba1/BBB- 500 200,000-0.73% -4.02% BRASKEM US10553YAF25 USD 6.45 03/02/2024 104.850 105.600 5.40 5.24 Ba1/BBB- 750 200,000 N/A -6.17% BRF USP1905CAE05 USD 4.75 22/05/2024 89.200 90.050 7.09 6.90 Ba2/BBB- 750 200,000 N/A -11.86% CSN ISLANDS XI USG2583XAA93 USD 6.88 21/09/2019 98.750 99.750 8.20 7.14 B3/B- *- 547 100,000-1.50% 10.96% FIBRIA US31572UAE64 USD 5.25 12/05/2024 99.900 100.650 5.27 5.11 Ba1/BBB- 600 2,000 N/A -7.07% ITAU UNIBANCO US46556MAF95 USD 5.65 19/03/2022 100.500 101.000 5.49 5.33 Ba3/B+ 1,250 200,000 0.00% -4.60% JBS USA29866AA70 USD 7.75 28/10/2020 102.750 103.250-0.14-4.72 NA/BB- 1,000 200,000 0.00% 1.86% MARFRIG USN54468AD05 USD 6.88 24/06/2019 101.100 101.600 5.36 4.69 B2/BB- 508 200,000 N/A -2.08% PETROBRAS US71645WAR25 USD 5.38 27/01/2021 101.400 101.700 4.74 4.60 Ba2/BB- 1,217 2,000-0.10% -3.89% PETROBRAS US71647NAP42 USD 8.38 23/05/2021 108.500 108.900 4.94 4.78 Ba2/BB- 1,240 2,000-0.91% -5.98% PETROBRAS US71647NAF69 USD 4.38 20/05/2023 92.800 93.300 6.17 6.04 Ba2/BB- 3,500 2,000-1.54% -5.88% PETROBRAS US71647NAM11 USD 6.25 17/03/2024 98.000 98.500 6.69 6.58 Ba2/BB- 2,500 2,000-1.51% -7.55% PETROBRAS XS0716979595 EUR 5.88 07/03/2022 111.200 111.700 2.45 2.31 Ba2/BB- 600 100,000 N/A -2.03% PETROBRAS XS0982711714 EUR 4.75 14/01/2025 102.750 103.350 4.24 4.13 Ba2/BB- 800 100,000 N/A -3.16% PETROBRAS US71647NAN93 USD 6.85 05/06/2115 81.150 81.900 8.44 8.36 Ba2/BB- 2,500 2,000-5.64% -13.44% SUZANO USG8600UAA19 USD 5.88 23/01/2021 102.850 103.600 4.57 4.24 Ba1/BBB- 186 100,000 N/A -4.99% VOTORANTIM USP98088AA83 USD 7.25 05/04/2041 97.000 98.000 7.53 7.43 Ba2/BBB- 1,151 200,000 N/A -8.27% VOTORANTIM USP98088AA83 USD 7.25 05/04/2041 97.000 98.000 7.53 7.43 Ba2/BBB- 1,151 200,000 N/A -8.27% VALE US91911TAM53 USD 4.38 11/01/2022 100.393 100.976 4.24 4.05 Baa3/BBB+ 1,469 2,000-0.14% -3.32% Rusya XS0504954347 USD 5.00 29/04/2020 101.412 101.912 4.08 3.76 Ba1/BBB- 3,500 100,000 N/A -4.46% XS0971721450 USD 4.88 16/09/2023 101.450 101.950 4.55 4.43 Ba1/BBB- 3,000 200,000 N/A -7.35% XS0088543193 USD 12.75 24/06/2028 157.710 158.590 5.15 5.06 Ba1/BBB- 2,500 10,000 N/A -10.77% XS0971721963 USD 5.88 16/09/2043 105.100 105.850 5.50 5.44 Ba1/BBB- 1,500 200,000 N/A -9.55%

4 ALFA BANK XS0620695204 USD 7.75 28/04/2021 104.007 105.507 6.06 5.45 Ba1/BB+ 1,000 200,000 N/A -8.08% GAZPROM XS0424860947 USD 9.25 23/04/2019 102.480 102.980 4.91 4.07 Baa3/BBB- 2,250 100,000 N/A -6.51% GAZPROM XS0906946008 EUR 3.39 20/03/2020 103.500 104.500 1.01 0.36 Baa3/BBB- 1,000 100,000 0.73% -1.73% GAZPROM XS0290580595 USD 6.51 07/03/2022 103.700 104.500 5.32 5.07 Baa3/BBB- 1,300 100,000 N/A -6.70% GAZPROMBANK XS0987109658 EUR 3.98 30/10/2018 99.163 100.663 11.50-2.13 Ba2/BB+ 1,000 100,000 N/A -3.63% GAZPROMBANK XS0779213460 USD 7.25 03/05/2019 97.920 99.420 10.80 8.21 B2/BB 500 200,000 N/A N/A GAZPROMBANK XS0975320879 USD 7.50 28/12/2023 96.250 97.250 9.94 9.69 NR/BB 750 200,000-1.28% -7.45% LUKOIL XS0461926569 USD 7.25 05/11/2019 103.410 104.010 4.10 3.57 Baa3/BBB+ 600 100,000 N/A -5.70% LUKOIL XS0554659671 USD 6.13 09/11/2020 103.234 103.834 4.51 4.22 Baa3/BBB+ 1,000 200,000 N/A -5.36% LUKOIL XS0304274599 USD 6.66 07/06/2022 105.900 106.600 4.90 4.69 Baa3/BBB+ 500 100,000 N/A -6.31% LUKOIL XS0919504562 USD 4.56 24/04/2023 97.790 98.490 5.11 4.93 Baa3/BBB+ 1,500 200,000 N/A -6.01% NORILSK XS1298447019 USD 6.63 14/10/2022 102.590 103.590 5.90 5.62 Baa3/BBB- *- 1,000 200,000 N/A -9.01% PROMSVYAZ BANK XS1086084123 USD 10.50 30/07/2021 4.010 54.010 277.91 38.27 WR/WD - 200,000 N/A -96.33% ROSNEFT XS0861981180 USD 4.20 06/03/2022 96.500 97.500 5.32 5.00 Baa3/WD 2,000 200,000 0.52% -4.37% RUSSIAN AGRI BANK XS0979891925 USD 8.50 16/10/2023 100.033 101.533 8.49 8.12 NR/NA 500 200,000 N/A -11.87% RUSSIAN STD BANK XS1117280625 USD 13.00 27/10/2022 19.500 24.500 83.02 69.87 NA/NA 545 164,000-11.36% N/A SBERBANK XS0799357354 USD 5.18 28/06/2019 99.220 100.720 6.22 4.21 Ba1/BBB- 1,000 200,000 N/A -4.60% SBERBANK XS0638572973 USD 5.72 16/06/2021 100.250 101.250 5.61 5.22 Ba1/BBB- 1,000 200,000-0.74% -7.67% SBERBANK XS0848530977 USD 5.13 29/10/2022 97.750 98.250 5.75 5.61 Ba2/BB+ 2,000 200,000 0.51% -6.75% SBERBANK XS0935311240 USD 5.25 23/05/2023 96.007 97.507 6.25 5.87 NA/BB+ 1,000 200,000 N/A -7.57% SBERBANK XS1032750165 USD 5.50 26/02/2024 98.260 99.760 7.38 6.05 NA/BB+ 1,000 200,000 N/A -4.72% VIP XS0643183220 USD 7.50 01/03/2022 106.273 106.435 5.48 5.43 Ba2/BB+ 601 200,000-0.12% -8.03% VNESHECONOMBANK XS0993162170 USD 4.22 21/11/2018 99.101 99.629 9.57 6.38 NA/BBB- 850 200,000-0.02% -2.01% VTB BANK XS0842078536 USD 6.95 17/10/2022 95.090 96.590 8.40 7.94 Ba3/WD 1,412 200,000 N/A -12.56% Venezuella US922646AT10 USD 13.63 15/08/2018 NA NA Invalid Ove A Invalid Ove WR/WD 753 1,000 N/A N/A US922646AS37 USD 9.25 15/09/2027 23.400 24.300 38.60 37.53 C/WD 4,000 1,000-13.33% -38.98% US922646BL74 USD 9.38 13/01/2034 25.650 26.650 33.94 32.84 C/WD 1,500 2,000-6.73% -29.24% USP17625AB33 USD 9.25 07/05/2028 22.900 23.900 42.09 40.64 C/WD 2,000 100-11.07% -33.04% USP17625AC16 USD 12.75 23/08/2022 23.500 24.500 66.60 64.63 C/WD 3,000 100-12.96% -49.02% USP17625AD98 USD 11.95 05/08/2031 23.600 24.600 44.40 42.88 C/WD 4,200 100-12.59% -41.29% USP17625AE71 USD 11.75 21/10/2026 24.250 25.150 50.81 49.28 C/WD 3,000 100-10.85% -36.35% USP97475AN08 USD 7.75 13/10/2019 23.000 23.900 221.76 213.93 C/WD 2,496 100-11.20% -50.80% PDVSA USP7807HAM71 USD 12.75 17/02/2022 21.400 22.250 77.99 75.88 NA/C 3,000 100-12.65% -53.63% PDVSA XS0294364954 USD 5.38 12/04/2027 19.850 20.600 39.59 38.40 NA/C 3,000 400-9.98% -33.28% Meksika US91087BAA89 USD 3.60 30/01/2025 96.850 97.250 4.17 4.09 A3/BBB+ 2,454 200,000-0.51% -5.60% US91086QBF46 USD 4.60 23/01/2046 92.000 92.650 5.15 5.10 A3/BBB+ 3,000 200,000-0.30% -8.91% BBVA BANCOMER USP16259AB20 USD 6.50 10/03/2021 104.250 104.850 4.66 4.40 Baa3/BBB- 1,250 150,000 N/A -5.53% BBVA BANCOMER USP16259AK29 USD 4.38 10/04/2024 99.300 100.050 4.52 4.36 A3/A- 750 150,000 N/A -5.65% CFELEC USP30179AM09 USD 4.88 15/01/2024 101.550 102.300 4.54 4.38 Baa1/BBB+ 1,250 200,000 N/A -5.97% CEMEX USP2253TJE03 USD 5.70 11/01/2025 100.900 101.650 5.46 5.26 NA/BB- 1,071 200,000 N/A -5.48% CEMEX USU12763AD75 USD 6.00 01/04/2024 102.650 103.400 5.17 4.93 NA/BB- 1,000 200,000 N/A -2.24% PEMEX XS1379158048 EUR 5.13 15/03/2023 110.200 110.700 2.67 2.56 Baa3/BBB+ 900 100,000-0.12% -3.43% PEMEX US71654QBG64 USD 3.50 30/01/2023 94.100 94.450 5.02 4.93 Baa3/BBB+ 2,100 10,000 0.11% -4.47% PEMEX US71656MAF68 USD 6.63 PERP 93.000 94.250 7.19 7.09 Baa3/BBB+ 1,000 10,000-0.53% -7.28% Arjantin US040114GL81 USD 8.28 31/12/2033 87.150 88.150 10.35 10.17 B2/WD 3,966 1-1.53% -25.06% US040114GK09 USD 2.50 31/12/2038 58.500 59.100 8.41 8.33 B2/WD 5,297 1 0.86% -17.89% YPF SOCIEDAD USP989MJBE04 USD 8.50 28/07/2025 94.980 95.982 9.51 9.30 B2/B 1,500 1,000 3.30% -17.18% Güney Afrika US836205AN45 USD 5.50 09/03/2020 101.593 101.893 4.37 4.15 Baa3/BB+ 1,619 100,000-0.37% -4.83% US836205AQ75 USD 4.67 17/01/2024 96.279 96.779 5.48 5.37 Baa3/BB+ 1,500 100,000-0.56% -6.64% US836205AR58 USD 5.88 16/09/2025 99.980 100.480 5.88 5.79 Baa3/BB+ 2,000 200,000-1.03% -8.06% US836205AS32 USD 5.38 24/07/2044 86.046 86.671 6.50 6.44 Baa3/BB+ 1,000 200,000-0.78% -12.64% ANGLOGOLD US03512TAC53 USD 5.13 01/08/2022 101.235 101.866 4.77 4.59 Baa3/NA 750 1,000-0.90% -3.86% ESKOM XS0579851949 USD 5.75 26/01/2021 94.870 95.873 8.19 7.70 B3/NA 1,750 200,000-0.49% -6.99% ESKOM XS1187065443 USD 7.13 11/02/2025 92.948 93.698 8.58 8.42 B3/NA 1,250 200,000-0.31% -10.73% TRANSNET XS0809571739 USD 4.00 26/07/2022 93.032 93.532 6.06 5.90 Baa3/BB+u 1,000 200,000-1.62% -5.79% ZAR SOV CAPITAL FUND XS1113141441 USD 3.90 24/06/2020 98.996 99.621 4.50 4.13 Baa3/BB+ 500 200,000-0.45% -2.71% Azerbaycan XS1044540547 USD 4.75 18/03/2024 100.366 101.116 4.67 4.52 Ba2/BB+ 1,250 200,000 2.56% -1.92% SOCAR XS0903465127 USD 4.75 13/03/2023 98.412 98.912 5.15 5.02 Ba2/BB+ 1,000 200,000 1.12% -1.80% SOCAR XS1196496688 USD 6.95 18/03/2030 104.757 105.757 6.36 6.24 NR/BB+ 750 200,000 0.51% -3.89%

5 Gürcistan GEORGIAN RAILWAY XS0800346362 USD 7.75 11/07/2022 104.250 104.250 6.47 6.47 NA/B+ 500 200,000 N/A -7.03% Kazakistan XS1120709669 USD 3.88 14/10/2024 101.250 101.750 3.64 3.55 Baa3/BBB 1,500 200,000 0.75% -2.29% XS1263054519 USD 5.13 21/07/2025 107.438 107.938 3.87 3.79 Baa3/BBB 2,500 200,000 1.20% -3.57% XS1120709826 USD 4.88 14/10/2044 101.500 102.000 4.77 4.74 Baa3/BBB 1,000 200,000 0.50% -2.70% XS1263139856 USD 6.50 21/07/2045 122.750 123.250 4.96 4.93 Baa3/BBB 1,500 200,000 0.82% -2.01% KAZAGRO XS0934609016 USD 4.63 24/05/2023 98.000 99.000 5.11 4.87 Ba1/BBB- 961 200,000 1.16% -3.80% KAZKOMMERTSBANK XS0867478124 USD 5.50 21/12/2022 99.750 100.750 5.56-4.06 NA/BB 750 1 0.00% 0.38% Yunanistan GR0114030555 EUR 3.50 30/01/2023 101.650 101.900 3.09 3.03 NA/BB- 4,356 1 0.69% N/A GR0124034688 EUR 3.75 30/01/2028 97.450 97.900 4.08 4.02 NA/BB- 5,963 1 2.01% N/A GR0128015725 EUR 3.90 30/01/2033 91.300 91.850 4.75 4.69 NA/BB- 6,091 1 1.69% N/A GR0133011248 EUR 4.00 30/01/2037 86.950 87.400 5.11 5.07 NA/BB- 4,805 1 1.46% N/A GR0138015814 EUR 4.20 30/01/2042 86.850 87.300 5.18 5.14 NA/BB- 4,604 1 1.34% N/A GRR000000010 EUR 0.00 15/10/2042 0.279 0.379 NA NA NA/NA 62,383 100-9.71% -26.39% Çin BANK OF CHINA US06120TAA60 USD 5.00 13/11/2024 102.082 102.238 4.61 4.58 Baa2/BBB+ 3,000 200,000-1.04% -5.50% CHINA SHANSHUI XS1200439609 USD 7.50 10/03/2020 80.000 85.000 24.51 19.74 NA/WD 427 200,000 N/A 2.56% CNPC HK USG21895AC44 USD 5.95 28/04/2041 117.992 119.117 4.65 4.58 A2/A+ 500 200,000-2.42% -6.34% HUARONG FINANCE XS1165659357 USD 4.50 16/01/2020 100.277 100.410 4.28 4.17 Baa1/A 1,200 200,000-0.31% -2.80% IND & COMM BANK USY39656AA40 USD 6.00 PERP 101.250 101.600 4.84 4.55 Ba1/NA 2,940 200,000-0.44% -2.99% Hindistan JSW STEEL LTD XS1133588233 USD 4.75 12/11/2019 99.500 100.125 5.20 4.63 Ba2/BB 500 200,000-0.25% -2.69% RELIANCE HOLDINGS US759468AC51 USD 5.40 14/02/2022 103.099 103.397 4.41 4.31 Baa2/NA 1,500 250,000-0.71% -6.27% Endonezya PERTAMINA USY7138AAA89 USD 5.25 23/05/2021 103.063 103.505 4.03 3.85 Baa2/BBB 1,000 200,000-0.36% -5.09% Peru UNACEM USP9451YAC77 USD 5.88 30/10/2021 102.000 102.750 4.86 4.49 Ba2/NA 625 150,000 N/A -1.21% Birleşik Arap Emirlikleri (Sukuk) JAFZ SUKUK 2019 XS0794821453 USD 7.00 19/06/2019 102.542 103.542 3.50 2.17 Baa2/BBB+ 237 200,000 0.12% -5.27% DIP SUKUK LTD XS1035007530 USD 4.29 20/02/2019 99.680 100.122 5.06 3.98 NA/NA 300 200,000-0.06% -2.14% EMAAR SUKUK LTD XS0805885349 USD 6.40 18/07/2019 101.957 102.957 3.96 2.74 Baa3/NA 500 200,000-0.25% -5.02% DIB SUKUK LTD XS1241110300 USD 2.92 03/06/2020 98.190 98.690 4.03 3.72 A3/A 750 200,000-0.19% -1.69% EMG SUKUK XS1075401726 USD 4.56 18/06/2024 99.750 100.250 4.61 4.51 Baa2/NA 750 200,000-0.75% -4.89% ABU DHABI NATIONAL XS0863524277 USD 3.63 12/01/2023 98.500 99.000 4.01 3.88 A3/A 1,250 200,000 0.25% -3.08% EMIRATES XS0885065887 USD 4.50 06/02/2025 98.625 99.125 4.75 4.66 NA/NA 464 200,000-0.13% -4.25%