ULUSLARARASI SERMAYE PİYASALARI - GÜNLÜK RAPOR 19/02/2019

1 ULUSLARARASI SERMAYE PİYASALARI - GÜNLÜK RAPOR 19/02/2019 Eurotahvil Piyasaları ABD tahvilleri resmi tatil sebebiyle bugün işlem görmedi. Avrupa tarafında da hacimler düşük seviyede olsa da risk iştahındaki hafif artış Almanya, Fransa ve İngiltere kıymetlerinde satış, İtalya, İspanya ve Portekiz kıymetlerin ise alış olarak yansıdı. Almanya 10 yıl vadeli kıymet %0,10 getiri seviyesinin üzerine gelirken, benzer vadeli İtalya kıymeti ise 3 baz puan sıkılaşarak %2,76 getiri seviyesinde fiyatlandı. Gelişmekte olan ülke piyasalarında da hacimler sınırlı olsa da yatay pozitif kapanış gerçekleştirildi. Türkiye 5 yıl vadeli CDS 317 baz puan seviyesinde seyretti. Banka ve şirket kıymetlerinde Türkiye Hazine kıymetlerine göre daha güçlü görünüm izlendi. Bankaların sermaye benzeri kıymetlerinde görece güçlü görünüm devam ederken, 2028 vadeli İş Bankası kıymeti $87 seviyesinde fiyatlandı. Senior İş Bankası 2024 kıymeti ise 92,00 bölgesinde işlem gördü. ABD & Avrupa Hisse Senedi Piyasaları Haftanın ilk işlem gününde ABD ve Kanada borsaları resmi tatil sebebiyle işlem görmedi. Asya piyasalarındaki güçlü seyre rağmen Avrupa endekslerindeki alımlar sınırlı oldu. İngiltere FTSE 100 endeksi %0,24 kayıpla günü 7219 puanda kapattı. En çok kazandıran sektör %1,73 lik primlenmeyle IT sektörü olurken, sağlık, enerji ve endüstriyeller sektörlerindeki kayıpları endeksi eksi alan geçirdi. Almanya DAX endeksi ise 11299 puanda yatay eksi kapanış gerçekleştirdi. Henkel %1,59, Deutsche Telekom %0,84 ve Deutsche Bank %0,44 primlendi. Volkswagen ise %1,15 kadar değer kaybetti. Fransa CAC40 endeksi ise %0,30 primle 5168 puan seviyesinde kapandı. Gün içerisinde önemli herhangi bir veri açıklaması yoktu. Yarın İngiltere tarafından gelecek istihdama dair gelecek veri açıklaması ve Euro bölgesi ZEW Beklenti anketi takip edilecek.. Emtia & FX Vadeli Kontratları (Futures) Haftanın ilk işlem gününde ABD-Çin ticaret savaşına yönelik pozitif beklentiler ve Asya piyasalarındaki risk iştahıyla birlikte G10 para birimleri içerisinde Amerikan Doları karşısındaki güçlü seyir devam etti. Geçtiğimiz hafta 1,1250 seviyesine kadar gerileyen ve bu seviyeden geri dönen EURUSD paritesi ise görece zayıf kalan karşısında %0,15 kadar değer kazandı ve kapanış saatlerinde 1,1310 seviyesinde seyretti. 1,1300 seviyesinin hemen altında açılış yapan parite gün boyunca 1,1330 seviyesine kadar yükselse de kazancının bir kısmını geri verdi. G10 parabirimleri içerisinde İsveç ve Norveç kronu petrolden beslenen hareketle en iyi performans gösteren para birimleri oldu. İsviçre Kronu %0,33 primlenirken, Norveç Kronu da %0,32 civarında değer artışı gösterdi. GBPUSD paritesinde de zayıflayan Dolar Endeksiyle birlikte %0,29 kadar prim görüldü. Güne 1,2900 seviyesinde başlayan parite, kapanış saatlerinde 1,2930 seviyesinde fiyatlandı. USDJPY ise artan risk iştahıyla birlikte %0,10 civarında primlenerek 110,60 seviyesinde seyretti. OPEC ten gelen arz kesintisine yönelik sözler ve ABD-Çin görüşmelerindeki pozitif havayla birlikte petrol fiyatlarında artış görüldü. Son 3 ayın zirvesine gelen aktif vadeli WTI petrol kontratı %0,85 primlenmeyle $56,00 seviyesinin üzerinde seyretti. Brent petroldeki kazanım daha zayıf olsa da, aktif vadeli kontratta %0,25 civarında değer artışıyla $66,40 bölgesi takip edildi. Spot altın USD deki göreceli zayıflıkla günü %0,30 civarında artıda kapattı ve kapanış saatlerinde 1326 bölgesinde fiyatlandı. LME metallerinde ise 3 ay vadeli bakır kontratı $87 primle $6275 fiyatta kapanış yaptı. Benchmark Tahviller Fiyat Getiri Türkiye 89.273 6.699 Brezilya 157.001 5.254 Rusya 96.933 4.734 Güney Afrika 98.240 5.086 ABD 99.672 2.663 Almanya 101.541 0.094 5 Yıllık CDS GIP Değişim (bps) Türkiye 317 3 Brezilya 164-4 Rusya 143-1 Güney Afrika 191 1 Hisse Senedi Piyasaları Kapanış Değişim % Dow Jones 25,883.25 1.74 S&P 500 2,775.60 1.09 NASDAQ 7,472.41 0.61 Almanya 11,266.81-0.29 İngiltere 7,166.25-0.74 Fransa 5,142.37-0.51 Japonya 21,302.65 0.10 Şangay 2,755.65 0.05 Hong Kong 28,228.13-0.42 Brezilya 96,509.89-1.04 Emtia Piyasaları Kapanış Değişim % Petrol 55.590 2.17 Altın 1,326.900 0.40 Gümüş 15.810 0.14 Bakır 6,275.00 1.41 Döviz Dünkü Seviye Değişim % EUR/USD 1.1311 0.13 USD/JPY 110.6200 0.14 USD/CAD 1.3240-0.03 GBP/USD 1.2924 0.27 AUD/USD 0.7130-0.15 NZD/USD 0.6848-0.29 USD/CNH 6.7769 0.05 USD/TRY 5.3116 0.26 USD/RUB 66.2057-0.09 USD/ZAR 14.1892 0.25 Futures Dünkü Seviye Değişim % Dow Jones Mini 25,888.00 1.81 S&P 500 Mini 2,777.00 1.22 DAX 11,286.00-0.12 EUR/USD 1.1322-0.06 TREASURY 10Y 122.05-0.10

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 3/11/2019 100.200 100.350 3.29 0.68 Ba3/BB 1,500 100,000-0.10% -3.36% US900123BF62 USD 7.50 11/7/2019 102.125 102.375 4.42 4.06 Ba3/BB 1,500 100,000 0.25% -3.85% US900123AX87 USD 7.00 6/5/2020 102.550 102.700 4.93 4.81 Ba3/BB 2,000 2,000 0.17% -3.78% US900123BH29 USD 5.63 3/30/2021 100.580 101.061 5.33 5.08 Ba3/BB 2,000 100,000 0.38% -3.30% US900123BY51 USD 5.13 3/25/2022 98.200 98.700 5.77 5.59 Ba3/BB 1,000 200,000 0.72% N/A US900123BZ27 USD 6.25 9/26/2022 101.000 101.500 5.93 5.78 Ba3/BB 2,500 200,000 0.50% N/A US900123CA66 USD 3.25 3/23/2023 90.400 90.900 5.93 5.78 Ba3/BB 1,500 200,000 0.72% N/A US900123CR91 USD 7.25 12/23/2023 103.750 104.250 6.33 6.21 Ba3/BB 2,000 200,000 0.61% N/A US900123CF53 USD 5.75 3/22/2024 97.628 98.128 6.30 6.18 Ba3/BB 2,500 200,000 0.65% N/A US900123AW05 USD 7.38 2/5/2025 103.875 104.375 6.58 6.48 Ba3/BB 3,250 2,000 0.61% -7.84% US900123CJ75 USD 4.25 4/14/2026 86.871 87.505 6.58 6.46 Ba3/BB 1,500 200,000 0.57% -5.96% US900123CK49 USD 4.88 10/9/2026 89.175 89.774 6.71 6.60 Ba3/BB 3,000 200,000 0.12% -6.62% US900123CP36 USD 5.13 2/17/2028 88.949 89.449 6.79 6.71 Ba3/BB 2,000 200,000-0.30% -7.44% US900123CQ19 USD 6.13 10/24/2028 0.000 - NA NA Ba3/BB 2,000 200,000-100.00% N/A US900123CL22 USD 6.00 3/25/2027 94.890 95.390 6.83 6.75 Ba3/BB 3,250 200,000-0.12% -8.02% US900123CT57 USD 7.63 4/26/2029 103.625 104.000 7.11 7.06 Ba3/BB 2,000 200,000 0.24% N/A US900123AL40 USD 11.88 1/15/2030 135.285 136.115 7.16 7.07 Ba3/BB 1,500 1,000 1.57% -10.80% US900123AT75 USD 8.00 2/14/2034 106.250 106.950 7.31 7.23 Ba3/BB 1,500 2,000 0.71% -10.25% US900123AY60 USD 6.88 3/17/2036 95.600 96.100 7.33 7.28 Ba3/BB 2,750 2,000-0.16% -10.52% US900123BB58 USD 7.25 3/5/2038 99.105 99.960 7.34 7.25 Ba3/BB 1,000 2,000 0.18% -10.57% US900123BG46 USD 6.75 5/30/2040 93.550 94.300 7.35 7.28 Ba3/BB 2,000 100,000-0.48% -11.05% US900123BJ84 USD 6.00 1/14/2041 85.877 86.693 7.30 7.22 Ba3/BB 3,000 200,000 0.00% -10.54% US900123CB40 USD 4.88 4/16/2043 75.795 76.295 6.96 6.91 Ba3/BB 3,000 200,000 0.32% -8.74% US900123CG37 USD 6.63 2/17/2045 91.825 92.410 7.33 7.28 Ba3/BB 3,000 200,000 0.25% -10.41% US900123CM05 USD 5.75 5/11/2047 82.850 83.350 7.17 7.13 Ba3/BB 3,500 200,000-0.48% N/A XS0285127329 EUR 5.88 4/2/2019 100.405 100.655 2.06-0.10 Ba3/BB 1,250 50,000-0.40% -4.97% XS0503454166 EUR 5.13 5/18/2020 103.750 104.000 2.01 1.82 Ba3/BB 2,000 50,000 0.36% N/A XS0993155398 EUR 4.35 11/12/2021 103.785 104.145 2.88 2.75 Ba3/BB 1,250 100,000 0.43% -4.34% XS1057340009 EUR 4.13 4/11/2023 101.664 102.295 3.68 3.52 Ba3/BB 1,000 100,000 0.74% -5.35% XS1629918415 EUR 3.25 6/14/2025 93.150 93.650 4.52 4.42 Ba3/BB 1,000 100,000-0.11% -7.11% XS1303467077 USD 4.25 6/8/2021 97.846 98.221 5.26 5.08 Ba3/BB 1,000 200,000 0.70% -2.14% XS1586385178 USD 5.00 4/6/2023 96.380 96.880 6.01 5.86 Ba3/BB 1,250 200,000 1.06% -4.69% XS1141043296 USD 4.49 11/25/2024 91.804 92.429 6.20 6.06 Ba3/BB 1,000 200,000 0.79% -5.79% AKBANK XS1111101314 USD 4.00 1/24/2020 98.875 99.375 5.26 4.70 B1/B+ 500 200,000 0.51% -0.38% AKBANK USM0375YAK49 USD 5.00 10/24/2022 95.000 96.000 6.55 6.23 B1/B+ 500 150,000 0.80% -4.52% AKBANK XS1210422074 USD 5.13 3/31/2025 90.125 91.125 7.15 6.93 B1/B+ 500 200,000 2.12% -6.73% AKBANK XS1574750292 USD 7.20 3/16/2027 91.750 93.750 8.86 8.50 Caa1/B 500 200,000 5.46% -11.14% AKBANK XS1772360803 USD 6.80 4/27/2028 89.500 94.500 8.36 7.54 Caa1/B 400 200,000 8.48% N/A ALTERNATİFBANK XS1089556358 USD 3.13 7/22/2019 99.125 100.125 5.24 2.82 NA/A 250 200,000 0.51% N/A ALTERNATİFBANK XS1396282177 USD 8.75 4/16/2026 94.447 96.197 10.90 10.54 B2/B+ 300 200,000 8.17% -8.06% ANADOLU EFES XS0848940523 USD 3.38 11/1/2022 94.375 95.375 5.06 4.75 Ba2/NA 500 200,000 1.21% -1.69% ARÇELİK XS1109959467 EUR 3.88 9/16/2021 101.250 102.250 3.35 2.95 NA/BB+ 350 100,000 1.50% -4.82% ARÇELİK XS0910932788 USD 5.00 4/3/2023 95.625 96.625 6.22 5.93 NA/BB+ 500 200,000 4.22% -4.49% COCA-COLA XS1577950402 USD 4.22 9/19/2024 94.750 95.375 5.31 5.18 Ba2/BBB- 500 200,000 0.66% -4.65% CREDIT EUROPE BANK XS1706923148 USD 7.25 11/9/2027 82.800 84.800 10.54 10.14 B2/B+ 150 200,000 N/A N/A EXPORT CREDIT BANK XS0774764152 USD 5.88 4/24/2019 100.125 100.625 5.06 2.25 B1/NA 750 200,000 0.25% -1.84% EXPORT CREDIT BANK XS1345632811 USD 5.38 2/8/2021 98.750 99.500 6.06 5.65 B1/BB- 500 200,000 1.67% -2.71% EXPORT CREDIT BANK XS1028943089 USD 5.00 9/23/2021 97.000 98.000 6.27 5.84 B1/BB- 500 200,000 1.70% -3.24% EXPORT CREDIT BANK XS1684378208 USD 4.25 9/18/2022 92.750 93.750 6.56 6.23 B1/BB- 500 200,000 2.06% N/A EXPORT CREDIT BANK XS1496463297 USD 5.38 10/24/2023 93.750 94.750 6.96 6.70 B1/BB- 500 200,000 2.46% -6.25% EXPORT CREDIT BANK XS1814962582 USD 6.13 5/3/2024 94.948 95.949 7.31 7.07 B1/BB- 500 200,000 3.06% N/A FİBABANKA XS1711581337 USD 6.00 1/25/2023 85.000 87.000 10.78 10.09 NA/B+ - 200,000 7.59% -14.25% FİBABANKA XS1386178237 USD 7.75 11/24/2027 84.500 85.500 10.49 10.30 NA/B- 300 200,000 9.32% -16.67% FİNANSBANK XS1063442484 USD 6.25 4/30/2019 100.375 100.750 4.20 2.28 Ba3/BB- 500 200,000 0.12% -2.07% FİNANSBANK XS1613091500 USD 4.88 5/19/2022 96.375 97.375 6.12 5.77 Ba3/BB- 750 200,000 2.39% -1.41% GARANTİ XS1084838496 EUR 3.38 7/8/2019 100.125 100.750 2.98 1.34 B1/BB- 500 100,000 0.38% -3.03% GARANTİ XS1057541838 USD 4.75 10/17/2019 99.500 100.250 5.53 4.35 B1/BB- 750 200,000 0.40% -1.61% GARANTİ USM8931TAA71 USD 6.25 4/20/2021 100.625 101.125 5.93 5.69 B1/BB- 500 200,000 1.00% -3.71% GARANTİ USM8931TAF68 USD 5.25 9/13/2022 96.625 97.375 6.32 6.08 B1/BB- 750 200,000 1.84% -4.09% GARANTİ XS1576037284 USD 5.88 3/16/2023 97.250 98.000 6.66 6.44 B1/BB- 500 200,000 1.97% -5.24% GARANTİ XS1617531063 USD 6.13 5/24/2027 89.000 90.500 8.34 8.07 B3/B+ 750 200,000 4.71% -10.08% GLOBAL LİMAN XS1132825099 USD 8.13 11/14/2021 97.750 99.250 9.06 8.43 B2/BB- 250 200,000 2.22% -3.81% HALK BANKASI XS1069383856 USD 4.75 6/4/2019 99.000 99.500 8.24 6.46 B2/B+ 500 200,000 0.38% -0.13% HALK BANKASI XS0882347072 USD 3.88 2/5/2020 95.500 97.000 8.89 7.18 B2/B+ 750 200,000 1.60% -0.26% HALK BANKASI XS1188073081 USD 4.75 2/11/2021 90.750 92.250 10.03 9.13 B2/B+ 500 200,000 3.86% -5.22% HALK BANKASI XS1439838548 USD 5.00 7/13/2021 91.500 93.000 9.02 8.28 B2/B+ 500 200,000 4.57% -5.18% İŞ BANKASI XS0982644774 USD 5.50 4/21/2019 99.875 100.625 6.15 1.71 B2/B+ 500 200,000 0.25% -1.60% İŞ BANKASI XS1121459074 USD 5.00 4/30/2020 98.625 99.375 6.21 5.54 B2/B+ 750 200,000 0.64% -1.99% İŞ BANKASI XS1079527211 USD 5.00 6/25/2021 95.625 96.625 7.05 6.57 B2/B+ 750 200,000 2.68% -3.89% İŞ BANKASI XS1390320981 USD 5.38 10/6/2021 95.750 96.750 7.18 6.74 B2/B+ 750 200,000 2.68% -4.37% İŞ BANKASI XS1508390090 USD 5.50 4/21/2022 94.605 95.855 7.44 6.98 B2/B+ 600 200,000 3.42% -5.28% İŞ BANKASI XS0847042024 USD 6.00 10/24/2022 91.875 93.375 8.62 8.12 Caa1/B 1,000 200,000 8.09% -7.89% İŞ BANKASI XS1003016018 USD 7.85 12/10/2023 95.550 97.200 9.01 8.57 Caa2/B 400 200,000 N/A N/A İŞ BANKASI XS1578203462 USD 6.13 4/25/2024 91.250 92.250 8.23 7.98 B2/B+ 1,250 200,000 5.04% -8.64% İŞ BANKASI XS1623796072 USD 7.00 6/29/2028 86.750 88.750 9.45 9.10 Caa2/B 500 200,000 12.85% -13.14% KOÇ HOLDİNG XS0922615819 USD 3.50 4/24/2020 98.875 99.375 4.49 4.05 Ba2/NA 750 200,000 0.64% -0.53%

3 KOÇ HOLDİNG XS1379145656 USD 5.25 3/15/2023 97.000 98.000 6.09 5.81 Ba2/NA 750 200,000 1.31% -5.83% MERSİN LİMAN XS0957598070 USD 5.88 8/12/2020 100.625 101.625 4.52 2.41 Ba2/BB+ 450 200,000 0.88% -2.07% ODEABANK XS1655085485 USD 7.63 8/1/2027 77.000 80.000 12.41 11.74 Caa2/B- 300 200,000 5.48% -18.95% PETKİM XS1747548532 USD 5.88 1/26/2023 94.625 95.625 7.48 7.17 B1/B 500 200,000 1.47% -5.61% RONESANS XS1807502668 USD 7.25 4/26/2023 79.750 85.750 13.77 11.64 Ba3/BB 300 200,000-0.31% N/A ŞİŞECAM XS0927634807 USD 4.25 5/9/2020 99.350 99.725 4.80 4.48 Ba2/BB+ 500 200,000 1.51% -0.86% TSKB XS1117601796 USD 5.38 10/30/2019 99.375 100.125 6.30 5.18 B2/B+ 350 200,000 0.63% -2.09% TSKB XS1219733752 USD 5.13 4/22/2020 97.625 98.625 7.27 6.36 B2/B+ 350 200,000 1.17% -2.98% TSKB XS1412393172 USD 4.88 5/18/2021 96.000 97.000 6.82 6.33 B2/B+ 300 200,000 5.49% -3.03% TSKB XS1750996206 USD 5.50 1/16/2023 90.625 91.625 8.36 8.04 B2/B+ 350 200,000 7.41% -7.76% TSKB XS1584113184 USD 7.63 3/29/2027 87.000 89.000 10.28 9.88 Caa2/B 300 200,000 8.07% -14.29% TURKCELL XS1298711729 USD 5.75 10/15/2025 95.250 96.250 6.64 6.45 Ba2u/BB+ 500 200,000 2.42% -9.61% TURKCELL XS1803215869 USD 5.80 4/11/2028 91.500 92.500 7.08 6.92 NA/BB+ 500 200,000 1.39% N/A TÜPRAŞ XS1686704948 USD 4.50 10/18/2024 91.250 92.250 6.36 6.14 Ba2/BB+ 700 200,000 3.40% -5.56% TÜRK TELEKOM XS1028952155 USD 3.75 6/19/2019 99.650 100.073 4.80 3.50 NA/BB+ 500 200,000 0.15% -0.60% TÜRK TELEKOM XS1028951264 USD 4.88 6/19/2024 90.875 91.875 6.95 6.71 NA/BB+ 500 200,000 3.12% -8.78% VAKIFLAR BANKASI XS1077629225 EUR 3.50 6/17/2019 100.250 100.750 2.64 1.11 B1/B+ 500 100,000 0.12% -1.84% VAKIFLAR BANKASI XS1403416222 EUR 2.38 5/4/2021 98.780 99.400 2.95 2.66 Ba1/NA 500 100,000 3.20% -2.95% VAKIFLAR BANKASI XS1508914691 USD 5.50 10/27/2021 97.000 97.750 6.74 6.42 B1/B+ 500 200,000 4.30% -2.88% VAKIFLAR BANKASI XS1622626379 USD 5.63 5/30/2022 95.875 96.875 7.05 6.70 B1/B+ 500 200,000 4.78% -3.40% VAKIFLAR BANKASI XS0849728190 USD 6.00 11/1/2022 92.750 93.750 8.31 7.98 Caa1/B 672 200,000 7.54% -5.84% VAKIFLAR BANKASI XS1760780731 USD 5.75 1/30/2023 93.625 94.625 7.65 7.34 B1/B+ 650 200,000 5.49% -5.07% VAKIFLAR BANKASI XS1175854923 USD 6.88 2/3/2025 94.000 96.000 9.11 8.66 Caa2/B 500 200,000 9.14% -6.93% VAKIFLAR BANKASI XS1551747733 USD 8.00 11/1/2027 91.000 92.500 9.75 9.48 Caa2/B 228 200,000 9.97% -11.54% YAPI KREDİ XS1028938915 USD 5.13 10/22/2019 99.750 100.250 5.50 4.73 B1/BB- 550 200,000 0.76% -1.48% YAPI KREDİ XS0874840688 USD 4.00 1/22/2020 98.625 99.375 5.55 4.70 B1/BB- 500 200,000 0.77% -0.25% YAPI KREDİ XS0861979440 USD 5.50 12/6/2022 93.000 94.000 7.66 7.34 B2/B+ 1,000 200,000 7.67% -5.10% YAPI KREDİ XS1571399754 USD 5.75 2/24/2022 97.250 98.250 6.78 6.40 B1/BB- 600 200,000 2.91% -3.95% YAPI KREDİ XS1634372954 USD 5.85 6/21/2024 91.875 92.875 7.74 7.49 B1/BB- 500 200,000 4.40% -7.20% YAPI KREDİ XS1376681067 USD 8.50 3/9/2026 97.500 99.500 9.87 8.77 B3/B+ 500 200,000 3.17% -8.67% YAPI KREDİ XS1788516679 USD 6.10 3/16/2023 95.250 96.250 7.47 7.18 B1/BB- 500 200,000 4.81% N/A YAPI KREDİ XS1867595750 USD 13.88 PERP 107.875 108.875 11.71 11.45 Caa1u/NA 650 200,000 5.76% N/A YAŞAR HOLDİNG XS1132450427 USD 8.88 5/6/2020 60.000 65.000 59.72 50.98 Caa1/B- 250 200,000 20.00% -41.03% ZİRAAT BANKASI XS1083936028 USD 4.25 7/3/2019 99.500 100.125 5.61 3.88 B1/B+ 750 200,000 0.51% -0.38% ZİRAAT BANKASI XS1223394914 USD 4.75 4/29/2021 96.250 97.000 6.61 6.23 B1/B+ 500 200,000 1.72% -2.90% ZİRAAT BANKASI XS1605397394 USD 5.13 5/3/2022 94.375 95.375 7.12 6.75 B1/B+ 600 200,000 2.72% -5.15% ZİRAAT BANKASI XS1691349010 USD 5.13 9/29/2023 91.875 92.625 7.23 7.03 B1/B+ 500 200,000 3.23% -6.25% (Sukuk) ALBARAKA XS1082151868 USD 6.25 6/30/2019 99.500 100.500 7.62 4.79 NA/NA 350 200,000 0.00% -0.67% ALBARAKA XS1301525207 USD 10.50 11/30/2025 90.125 95.115 13.39 12.21 NA/NA 250 200,000 0.14% -11.21% BANK ASYA XS0907295942 USD NA 3/28/2023 1.000 11.000 NA NA WR/NA 250 200,000 0.00% -97.50% KUVEYT TÜRK XS1079236169 USD 5.16 6/26/2019 99.625 100.375 6.22 4.04 NA/BB- 500 200,000 0.01% -2.09% KUVEYT TÜRK XS1505149325 USD 5.14 11/2/2021 98.250 100.250 5.84 5.03 NA/BB- 500 200,000 2.34% -3.56% KUVEYT TÜRK XS1323608635 USD 7.90 2/17/2026 99.000 101.000 8.46 7.35 NA/B+ 350 200,000 1.54% -2.70% TÜRKİYE FİNANS XS1057852912 USD 5.38 4/24/2019 100.000 100.500 5.28 2.46 NA/BB- 500 200,000 0.00% -1.96% Brezilya US105756BT66 BRL 8.50 1/5/2024 101.750 102.125 8.22 8.12 Ba2/BB- 3,150 350,000-0.06% 1.68% US105756AR10 USD 8.88 4/15/2024 124.250 124.750 3.66 3.57 Ba2/BB- 1,029 1,000 1.64% -1.19% US105756BV13 USD 4.25 1/7/2025 101.050 101.550 4.05 3.95 Ba2/BB- 4,300 200,000 1.61% 1.05% US105756AE07 USD 10.13 5/15/2027 137.500 138.500 4.60 4.48 Ba2/BB- 838 1,000 1.36% -2.00% US105756BB58 USD 8.25 1/20/2034 126.550 127.550 5.60 5.52 Ba2/BB- 1,502 1,000 1.85% -1.13% BANCO DO BRASIL USP3772WAF97 USD 9.00 PERP 105.750 106.750 7.66 7.44 B2/NA 2,170 200,000 1.20% 1.44% BRASKEM USG1315RAD38 USD 5.75 4/15/2021 103.500 104.000 4.03 3.79 Ba1/BBB- 1,000 200,000 0.49% -1.66% BRASKEM USG1315RAG68 USD 5.38 5/2/2022 103.000 103.625 4.36 4.15 Ba1/BBB- 500 200,000 0.86% N/A BRASKEM US10553YAF25 USD 6.45 2/3/2024 108.250 109.000 4.57 4.41 Ba1/BBB- 750 200,000 1.60% -1.37% BRF USP1905CAE05 USD 4.75 5/22/2024 94.850 95.500 5.90 5.75 Ba2/BBB- 750 200,000 2.65% -5.39% CSN ISLANDS XI USG2583XAA93 USD 6.88 9/21/2019 99.500 100.500 7.75 5.98 B3/B- *- 547 100,000-0.25% 0.00% FIBRIA US31572UAE64 USD 5.25 5/12/2024 103.400 104.150 4.51 4.35 Ba1/BBB- 600 2,000 0.98% -1.52% ITAU UNIBANCO US46556MAF95 USD 5.65 3/19/2022 103.625 104.125 4.38 4.21 Ba3/B+ 1,250 200,000 0.36% 0.85% MARFRIG USN54468AD05 USD 6.88 6/24/2019 100.700 101.200 4.74 3.29 B2/BB- 508 200,000-0.05% -1.71% PETROBRAS US71645WAR25 USD 5.38 1/27/2021 102.600 103.050 3.96 3.72 Ba2/BB- 1,104 2,000 0.00% -0.58% PETROBRAS US71647NAP42 USD 8.38 5/23/2021 109.450 109.850 3.95 3.77 Ba2/BB- 902 2,000-0.05% -2.58% PETROBRAS US71647NAF69 USD 4.38 5/20/2023 100.150 100.750 4.33 4.18 Ba2/BB- 3,117 2,000 1.26% N/A PETROBRAS US71647NAM11 USD 6.25 3/17/2024 105.450 108.850 5.02 4.29 Ba2/BB- 2,440 2,000 0.72% 0.91% PETROBRAS XS0716979595 EUR 5.88 3/7/2022 112.750 113.350 1.55 1.36 Ba2/BB- 600 100,000 0.31% -1.18% PETROBRAS XS0982711714 EUR 4.75 1/14/2025 109.600 110.200 2.95 2.85 Ba2/BB- 800 100,000 1.67% -0.05% PETROBRAS US71647NAN93 USD 6.85 6/5/2115 97.500 98.250 7.02 6.97 Ba2/BB- 2,500 2,000 2.36% 1.83% SUZANO USG8600UAA19 USD 5.88 1/23/2021 103.850 104.600 3.78 3.38 Ba1/BBB- 186 100,000-0.05% -3.17% VOTORANTIM USP98088AA83 USD 7.25 4/5/2041 107.000 107.750 6.64 6.58 Ba2/BBB- 610 200,000 1.66% 1.42% VOTORANTIM USP98088AA83 USD 7.25 4/5/2041 107.000 107.750 6.64 6.58 Ba2/BBB- 610 200,000 1.66% 1.42% VALE US91911TAM53 USD 4.38 1/11/2022 100.400 100.900 4.22 4.04 Baa3 *-/BBB- *- 1,069 2,000-1.38% -1.81% Rusya XS0504954347 USD 5.00 4/29/2020 101.771 102.146 3.46 3.14 Baa3/BBB- 3,500 100,000-0.02% -2.26% XS0971721450 USD 4.88 9/16/2023 102.963 103.338 4.16 4.07 Baa3/BBB- 3,000 200,000-0.28% -2.99% XS0088543193 USD 12.75 6/24/2028 158.680 159.680 4.86 4.76 Baa3/BBB- 2,500 10,000-0.29% -6.49% XS0971721963 USD 5.88 9/16/2043 109.150 109.900 5.21 5.16 Baa3/BBB- 1,500 200,000-0.15% -3.65% ALFA BANK XS0620695204 USD 7.75 4/28/2021 105.036 106.536 5.27 4.57 Ba1/BB+ 1,000 200,000-0.57% -3.93% GAZPROM XS0424860947 USD 9.25 4/23/2019 100.703 101.078 4.98 2.87 Baa2/BBB- 2,250 100,000 0.22% -5.72%

4 GAZPROM XS0906946008 EUR 3.39 3/20/2020 102.490 103.990 1.04-0.31 Baa2/BBB- 1,000 100,000-0.31% -2.54% GAZPROM XS0290580595 USD 6.51 3/7/2022 105.320 105.820 4.62 4.44 Baa2/BBB- 1,300 100,000 0.56% -2.79% GAZPROMBANK XS0779213460 USD 7.25 5/3/2019 99.970 101.470 7.24-0.10 B2/BB 500 200,000-0.15% -2.49% GAZPROMBANK XS0975320879 USD 7.50 12/28/2023 98.402 99.902 NA NA WR/WD - 200,000 0.00% -3.14% LUKOIL XS0461926569 USD 7.25 11/5/2019 102.093 102.843 4.20 3.13 Baa2/BBB+ 600 100,000 0.12% -4.17% LUKOIL XS0554659671 USD 6.13 11/9/2020 102.805 103.555 4.41 3.96 Baa2/BBB+ 1,000 200,000 0.22% -3.46% LUKOIL XS0304274599 USD 6.66 6/7/2022 106.293 107.043 4.57 4.34 Baa2/BBB+ 500 100,000 0.37% -4.12% LUKOIL XS0919504562 USD 4.56 4/24/2023 99.510 100.260 4.69 4.49 Baa2/BBB+ 1,500 200,000 0.22% -2.16% NORILSK XS1298447019 USD 6.63 10/14/2022 105.470 106.470 4.96 4.67 Baa2/BBB- *- 1,000 200,000 0.00% -4.14% PROMSVYAZ BANK XS1086084123 USD 10.50 7/30/2021 4.010 54.010 317.70 42.53 WR/WD - 200,000 0.00% 0.25% ROSNEFT XS0861981180 USD 4.20 3/6/2022 97.230 98.730 5.20 4.65 Baa3/WD 2,000 200,000 0.05% -2.13% RUSSIAN AGRI BANK XS0979891925 USD 8.50 10/16/2023 101.825 103.325 8.02 7.63 NR/NA 500 200,000 0.90% -8.58% SBERBANK XS0799357354 USD 5.18 6/28/2019 99.707 101.207 5.98 1.72 Baa3/BBB- 1,000 200,000-0.12% -2.68% SBERBANK XS0638572973 USD 5.72 6/16/2021 101.529 103.029 5.01 4.33 Baa3/BBB- 1,000 200,000-0.11% -3.77% SBERBANK XS0848530977 USD 5.13 10/29/2022 98.805 100.305 5.48 5.03 Ba1/BB+ 2,000 200,000 0.87% -3.83% SBERBANK XS0935311240 USD 5.25 5/23/2023 98.937 100.437 5.53 5.13 NA/BB+ 1,000 200,000 1.00% -3.95% SBERBANK XS1032750165 USD 5.50 2/26/2024 99.278 100.778 6.68 6.33 NA/BB+ 1,000 200,000-0.17% -1.89% VIP XS0643183220 USD 7.50 3/1/2022 109.290 109.871 4.20 4.01 Ba2/BB+ 417 200,000-0.35% N/A VTB BANK XS0842078536 USD 6.95 10/17/2022 100.912 102.412 6.66 6.20 Ba2/WD 1,412 200,000 0.53% -5.73% Venezuella US922646AS37 USD 9.25 9/15/2027 33.750 35.150 32.15 31.05 C/WD 4,000 1,000 20.54% 18.42% US922646BL74 USD 9.38 1/13/2034 34.750 36.150 25.79 24.94 C/WD 1,500 2,000 9.11% 24.55% USP17625AB33 USD 9.25 5/7/2028 32.000 33.400 31.81 30.70 C/WD 2,000 100 16.58% 18.52% USP17625AC16 USD 12.75 8/23/2022 33.750 35.150 59.92 57.79 C/WD 3,000 100 18.84% 13.64% USP17625AD98 USD 11.95 8/5/2031 33.750 35.050 32.33 31.33 C/WD 4,200 100 19.26% 16.38% USP17625AE71 USD 11.75 10/21/2026 34.250 35.650 37.74 36.48 C/WD 3,000 100 19.96% 17.09% USP97475AN08 USD 7.75 10/13/2019 31.000 32.400 311.06 293.84 C/WD 2,496 100 16.10% 18.10% PDVSA USP7807HAM71 USD 12.75 2/17/2022 30.200 31.400 64.38 62.34 NA/C 3,000 100 20.80% 7.86% PDVSA XS0294364954 USD 5.38 4/12/2027 25.000 26.000 30.59 29.70 NA/C 3,000 400 21.95% 4.60% Meksika US91087BAA89 USD 3.60 1/30/2025 97.500 97.900 4.08 4.00 A3/BBB+ 2,454 200,000 0.41% -0.91% US91086QBF46 USD 4.60 1/23/2046 91.875 92.525 5.16 5.11 A3/BBB+ 3,000 200,000 1.41% N/A BBVA BANCOMER USP16259AB20 USD 6.50 3/10/2021 103.750 104.250 4.56 4.31 Baa2/BBB- 1,250 150,000 0.00% -2.81% BBVA BANCOMER USP16259AK29 USD 4.38 4/10/2024 99.618 100.205 4.46 4.33 A3/A- 750 150,000 0.25% -2.21% CFELEC USP30179AM09 USD 4.88 1/15/2024 100.125 100.875 4.84 4.67 Baa1/BBB+ 1,250 200,000 0.50% -2.98% CEMEX USP2253TJE03 USD 5.70 1/11/2025 100.125 100.875 5.66 5.45 NA/BB- 1,071 200,000 1.11% -3.40% CEMEX USU12763AD75 USD 6.00 4/1/2024 101.625 102.375 5.42 5.16 NA/BB- 1,000 200,000 0.10% -2.52% PEMEX XS1379158048 EUR 5.13 3/15/2023 106.125 106.875 3.48 3.29 Baa3/BBB- 900 100,000 0.83% N/A PEMEX US71654QBG64 USD 3.50 1/30/2023 93.150 93.500 5.45 5.35 Baa3/BBB- 2,100 10,000 0.27% N/A PEMEX US71656MAF68 USD 6.63 PERP 83.550 84.550 8.01 7.91 Baa3/BBB- 1,000 10,000-0.83% -16.70% Arjantin US040114GL81 USD 8.28 12/31/2033 87.200 88.200 10.40 10.22 B2/WD 3,966 1 0.23% -20.00% US040114GK09 USD 2.50 12/31/2038 58.300 58.800 8.59 8.52 B2/WD 5,297 1-0.68% -12.86% YPF SOCIEDAD USP989MJBE04 USD 8.50 7/28/2025 98.650 99.400 8.78 8.62 B2/B 1,500 1,000 1.39% -10.72% Güney Afrika US836205AN45 USD 5.50 3/9/2020 101.576 101.876 3.95 3.66 Baa3/BB+ 1,619 100,000 0.00% -2.30% US836205AQ75 USD 4.67 1/17/2024 99.512 100.012 4.78 4.66 Baa3/BB+ 1,500 100,000 0.53% -1.89% US836205AR58 USD 5.88 9/16/2025 104.100 104.600 5.13 5.04 Baa3/BB+ 2,000 200,000 1.09% -3.07% US836205AS32 USD 5.38 7/24/2044 91.764 92.514 6.01 5.95 Baa3/BB+ 1,000 200,000 2.67% -5.19% ANGLOGOLD US03512TAC53 USD 5.13 8/1/2022 102.030 102.660 4.48 4.29 Baa3/NA 750 1,000 0.62% -0.77% ESKOM XS0579851949 USD 5.75 1/26/2021 97.395 98.395 7.22 6.65 B3/NA 1,750 200,000 0.71% -3.20% ESKOM XS1187065443 USD 7.13 2/11/2025 97.526 98.276 7.65 7.49 B3/NA 1,250 200,000 4.25% -6.47% TRANSNET XS0809571739 USD 4.00 7/26/2022 96.197 96.947 5.22 4.98 Baa3/BB+u 1,000 200,000 0.94% -2.28% ZAR SOV CAPITAL FUND XS1113141441 USD 3.90 6/24/2020 99.415 100.040 4.35 3.87 Baa3/BB+ 500 200,000 0.28% -1.33% Azerbaycan XS1044540547 USD 4.75 3/18/2024 102.147 102.647 4.27 4.17 Ba2/BB+ 1,250 200,000 0.94% 0.50% SOCAR XS0903465127 USD 4.75 3/13/2023 101.045 101.795 4.47 4.26 Ba2/BB+ 1,000 200,000 0.53% 0.84% SOCAR XS1196496688 USD 6.95 3/18/2030 110.518 111.518 5.66 5.54 NR/BB+ 750 200,000 1.39% -0.34%

5 Gürcistan GEORGIAN RAILWAY XS0800346362 USD 7.75 7/11/2022 103.130 103.130 6.70 6.70 NA/B+ 500 200,000 N/A -6.88% Kazakistan XS1120709669 USD 3.88 10/14/2024 101.992 102.438 3.48 3.40 Baa3/BBB 1,500 200,000 0.27% N/A XS1263054519 USD 5.13 7/21/2025 107.862 108.362 3.74 3.65 Baa3/BBB 2,500 200,000 0.45% -1.22% XS1120709826 USD 4.88 10/14/2044 105.143 105.422 4.53 4.52 Baa3/BBB 1,000 200,000 2.16% N/A XS1263139856 USD 6.50 7/21/2045 126.527 126.948 4.73 4.71 Baa3/BBB 1,500 200,000 2.57% N/A KAZAGRO XS0934609016 USD 4.63 5/24/2023 98.500 103.500 5.02 3.73 Ba1/BBB- 961 200,000 1.55% -3.43% KAZKOMMERTSBANK XS0867478124 USD 5.50 12/21/2022 99.500 100.500 5.65 0.35 NA/BB 750 1 0.38% 0.51% Yunanistan GR0114030555 EUR 3.50 1/30/2023 103.630 103.630 2.52 2.52 NA/BB- 4,356 1 1.75% 2.81% GR0124034688 EUR 3.75 1/30/2028 99.850 99.950 3.77 3.76 NA/BB- 5,963 1 3.10% 4.01% GR0128015725 EUR 3.90 1/30/2033 95.200 95.300 4.37 4.36 NA/BB- 6,091 1 3.37% 4.62% GR0133011248 EUR 4.00 1/30/2037 92.430 92.520 4.63 4.62 NA/BB- 4,805 1 3.80% 3.85% GR0138015814 EUR 4.20 1/30/2042 92.400 92.500 4.75 4.74 NA/BB- 4,604 1 3.94% 3.24% GRR000000010 EUR 0.00 10/15/2042 0.269 0.349 NA NA NA/NA 62,383 100-6.92% -34.55% Çin BANK OF CHINA US06120TAA60 USD 5.00 11/13/2024 104.358 104.523 4.14 4.10 Baa2/BBB+ 3,000 200,000 1.36% 0.40% CNPC HK USG21895AC44 USD 5.95 4/28/2041 119.913 121.049 4.52 4.45 A2/A+ 500 200,000 1.83% -1.55% HUARONG FINANCE XS1165659357 USD 4.50 1/16/2020 100.344 100.436 4.10 4.00 Baa1/A 1,200 200,000 0.21% -1.19% IND & COMM BANK USY39656AA40 USD 6.00 PERP 101.250 101.400 4.34 4.15 Ba1/NA 2,940 200,000 0.10% N/A Hindistan JSW STEEL LTD XS1133588233 USD 4.75 11/12/2019 99.875 100.375 4.92 4.21 Ba2/BB 500 200,000 0.38% N/A RELIANCE HOLDINGS US759468AC51 USD 5.40 2/14/2022 104.199 104.440 3.89 3.81 Baa2/NA 1,500 250,000 0.75% -1.67% Endonezya PERTAMINA USY7138AAA89 USD 5.25 5/23/2021 103.050 103.425 3.82 3.65 Baa2/BBB 1,000 200,000 0.41% N/A Peru UNACEM USP9451YAC77 USD 5.88 10/30/2021 102.273 102.630 4.46 4.08 Ba2/NA 225 150,000 0.04% N/A Birleşik Arap Emirlikleri (Sukuk) JAFZ SUKUK 2019 XS0794821453 USD 7.00 6/19/2019 100.808 101.808 4.45 1.44 Baa2/BBB+ 237 200,000-0.25% -3.83% DIP SUKUK LTD XS1035007530 USD 4.29 2/20/2019 100.000 100.000 4.20 4.20 NA/BB+ 300 200,000 0.11% -0.55% EMAAR SUKUK LTD XS0805885349 USD 6.40 7/18/2019 100.858 101.858 4.24 1.81 Baa3/NA 500 200,000-0.19% -3.35% DIB SUKUK LTD XS1241110300 USD 2.92 6/3/2020 98.630 99.130 4.02 3.62 A3/A 750 200,000 0.19% -0.37% EMG SUKUK XS1075401726 USD 4.56 6/18/2024 101.000 101.500 4.35 4.25 Baa2/NA 750 200,000 2.67% -1.22% ABU DHABI NATIONAL XS0863524277 USD 3.63 1/12/2023 99.750 100.250 3.69 3.55 A3/A 1,250 200,000 1.53% 0.25% EMIRATES XS0885065887 USD 4.50 2/6/2025 99.250 99.750 4.65 4.55 NA/NA 429 200,000 0.89% 0.25%