ULUSLARARASI SERMAYE PİYASALARI - GÜNLÜK RAPOR 12/03/2019

1 ULUSLARARASI SERMAYE PİYASALARI - GÜNLÜK RAPOR 12/03/2019 Eurotahvil Piyasaları Haftanın ilk işlem gününde ekonomik veri takviminde ABD tarafında perakende satışlar verisi öne çıkarken Ocak ayı verisi beklentinin üzerinde 0.2% oldu. Yarın ise ABD de CPI verisi; İngiltere de ise Brexit gelişmeleri ile İngiltere ticaret dengesi, sanayi üretimi ve imalat üretimi verileri takip edilecek. ABD 10 yıllık tahvillerde piyasadaki genel risk alma isteği artışı ile satışlar görülürken getiriler 2.65 seviyelerineyükseldi. Avrupa 10 yıllıklarda ise seyir karışık oldu; İngiltere 10 yıllıklar günü 1.17 getiri seviyesi ile alıcılı sonlandırırken Fransa 10 yıllıklar 0.40; Almanya 10 yıllıklar 0.07 seviyesinden işlem gününü sonlandırdı. Türkiye tarafında alıcılı seyir vardı; Ekim 2028 vadeli kıymet 63.500 seviyelerinden işlem gördü. Subordinated kıymetlerde yatay ekside hareket olurken 2028 vadeli İş Bankası subordinated kıymet yaklaşık 85.000 seviyelerinden işlem gördü. Akbank 2028 vadeli subordinated kıymet de yatay olarak 89.200 civarında seyretti. Türkiye 5 yıl vadeli CDS i Cuma gününü kapanışı yaptığı 331 seviyelerinden 329 a geriledi. ABD & Avrupa Hisse Senedi Piyasaları Haftanın ilk işlem gününde hisse senedi piyasalarına yükseliş hakimdi. Son dönemde gündeme gelen uçak kazalarının da etkisiyle satışların arttığı Boeing Dow Jones endeksini baskılarken, Nvidia nın Mellanox Technologies i satın alacağını açıklaması teknoloji hisselerinde yükselişi destekledi. Endekslerin genelinde toplam işlem hacmi 30 günlük ortalamanın altında seyretti. %2,02 ile Nasdaq ABD de en fazla yükseliş kaydeden endeks olurken, Dow Jones %0,79 primle kapanış gerçekleştirdi. Geçtiğimiz hafta görülen satışların ardından haftaya yükselişle başlayans&p 500 ise 200 günlük ortalamasının üzerinde kapanış gerçekleştirdi. S&P 500 %1,47 yükselişle günü 2783,30 puan seviyesinde tamamladı. %2,17 ile endekste en fazla değer kazanan sektör IT olurken, telekomünikasyon %1,87 ve enerji ve konut sektörü %1,54 yükseldi. Mellanox Technologies şirketini 6,9 milyar dolara almak üzere anlaştıklarını açıklayan Nvidia %6,97 yükselişle endekste en fazla değer kazanan hisse oldu. Dow Jones da ise 30 hisse içerisinde sadece Boeingdeğer kaybetti ve günü %5,33 düşüşle tamamladı. Analist tahminlerindeki yukarı yönlü revizyonla birlikte Apple %3,46 yükselişle endekste en fazla primlenen hisse oldu. Coca Cola %2,99, 3M %3,09, United Health Group ise %2,47 oranında yükseliş kaydetti. Euro Stoxx 50 %0,63, FTSE 100 %0,37 ve CAC 40 %0,66 oranında değer kazandı. DAX endeksi ise %0,75 yükselişle günü 11543,48 puan seviyesinde tamamladı. Zorunlu tüketim malları %0,63 ve sağlık sektörü %0,19 oranında geriledi. IT %1,23 ile en fazla değer kazanan sektör olurken, hammadde %0,97, sanayi %0,94 ve altyapı sektörü %0,91 yükseldi. Bayer %1,57, Beiersdorf %1,30, Deutsche Boerse %0,53 ve Volkswagen %0,27 geriledi. Wirecard %7,67, Deutsche Bank %4,96, Merck %2,18, Fresenius ise %2,08 primlendi. Almanya da bugün açıklanan verilere göre sanayi üretimi Ocak ayında aylık bazda %0,8 düşüşle %0,5 artış beklentisinin altındagerçekleşti. Yıllık bazda sanayi üretiminde gerileme ise %3,3 oldu. Söz konusu dönemde ihracat aylık bazda değişim göstermezken, ithalat %1,5 ilepiyasa beklentisinin üzerinde arış kaydetti. ABD de ise perakende satışlar Ocak ayında aylık bazda %0,2 ile piyasa beklentisinin üzerinde yükseldi. Yarın İngiltere de Ocak ayına ilişkin büyüme, ticaret dengesi, sanayi üretimi ve servis sektörü endeksi rakamları açıklanacak. Günün en önemli verisi ise ABD de açıklanacak Şubat ayı tüketici enflasyonu olarak öne çıkıyor. Emtia & FX Vadeli Kontratları (Futures) 11 Mart Pazartesi günü global risk iştahı artışıyla G10 para birimlerinin genelinde Amerikan Doları karşısında kazanımlar görülürken güvenli liman olan JPY ve CHF den çıkış dikkat çekti. EURUSD paritesi açılışı yaptığı 1.1240 yakınlarından gün içerisinde 1.1260 yakınlarına yükseliş gerçekleştirdi. 50 ve 100 günlük hareketli ortalamalar 1.1371 seviyesinde kesişmiş durumdalar ve kalıcı bir yukarı hareket için bu seviyenin aşılması gerekecek. Theresa May in Avrupa Birliği ile son dakika görüşmesi yapacağı haberleri GBPUSD paritesine alım getirdi, May yarın parlamentoyabrexit anlaşmasını sunacak. GBPUSD paritesi 1.3000 psikolojik seviyesi yakınlarından yeni haftaya başlamasının ardından 1.3170 e kadar yükseliş gösterdi. Paritenin 50 günlük hareketli ortalaması 1.2977 de, 200 günlüğü ise 1.2985 seviyesinde bulunuyor ve bu seviyelerin altından tepki alımları hız kazanmakta. LME metallerinde seyir karışık olurken 3 ay vadeli bakır kontratı günü 6407 seviyesinden 0.19% artıda sonlandırdı; nikel ve kalay kontratlarında ise 1.50% civarından ekside kapanış dikkat çekti. Spot altın risk iştahındaki artışla değer kaybederken 1300 psikolojik seviyesinden1290 seviyesine gerileme oldu. 1303 seviyesinde altının 50 günlük hareketli ortalaması bulunuyor ve direnç görevinde. Suudi Arabistan ın petrol arzını azaltacağı haberlerinin de etkisiyle petrolde yükseliş olurken ABD kapanışına gelindiğinde brent petrol 1.29%; WTI petrol ise 1.25% primli olarak işlem görmekteydi. Benchmark Tahviller Fiyat Getiri Türkiye 88.275 6.868 Brezilya 156.850 5.272 Rusya 98.333 4.555 Güney Afrika 98.420 5.058 Almanya 101.630 0.084 5 Yıllık CDS GIP Değişim (bps) Türkiye 328-3 Brezilya 157-9 Rusya 125-3 Güney Afrika 179-6 Hisse Senedi Piyasaları Kapanış Değişim % Dow Jones 25,650.88 0.79 S&P 500 2,783.30 1.47 NASDAQ 7,558.06 2.02 Almanya 11,543.48 0.75 İngiltere 7,130.62 0.37 Fransa 5,265.96 0.66 Japonya 21,503.69 1.79 Şangay 3,060.31 1.10 Hong Kong 28,922.66 1.47 Brezilya 98,026.62 2.79 Emtia Piyasaları Kapanış Değişim % Petrol 56.790 1.28 Altın 1,293.425-0.38 Gümüş 15.312-0.19 Bakır 6,407.00 0.19 Döviz Dünkü Seviye Değişim % EUR/USD 1.1245 0.09 USD/JPY 111.2100 0.04 USD/CAD 1.3394-0.16 GBP/USD 1.3150 1.04 AUD/USD 0.7070 0.35 NZD/USD 0.6830 0.38 USD/CNH 6.7193 0.02 USD/TRY 5.4361 0.10 USD/RUB 65.7310-0.47 USD/ZAR 14.2656-0.69 Futures Dünkü Seviye Değişim % Dow Jones Mini 25,690.00 0.63 S&P 500 Mini 2,789.00 1.34 DAX 11,540.00 0.65 EUR/USD 1.1246-0.04 TREASURY 10Y 122.64-0.10

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) US900123BF62 USD 7.50 11/7/2019 101.940 102.240 4.41 3.95 Ba3/BB 1,500 100,000-0.18% -3.72% US900123AX87 USD 7.00 6/5/2020 102.495 102.795 4.87 4.62 Ba3/BB 2,000 2,000-0.08% -3.44% US900123BH29 USD 5.63 3/30/2021 100.487 100.929 5.37 5.14 Ba3/BB 2,000 100,000-0.25% -3.14% US900123BY51 USD 5.13 3/25/2022 98.083 98.583 5.82 5.64 Ba3/BB 1,000 200,000-0.04% -3.84% US900123BZ27 USD 6.25 9/26/2022 100.500 101.000 6.09 5.93 Ba3/BB 2,500 200,000-0.74% -5.47% US900123CA66 USD 3.25 3/23/2023 90.430 90.930 5.96 5.81 Ba3/BB 1,500 200,000-0.19% -2.57% US900123CR91 USD 7.25 12/23/2023 103.000 103.500 6.50 6.38 Ba3/BB 2,000 200,000-1.08% N/A US900123CF53 USD 5.75 3/22/2024 97.100 97.600 6.43 6.31 Ba3/BB 2,500 200,000-0.79% -5.63% US900123AW05 USD 7.38 2/5/2025 103.415 103.915 6.66 6.56 Ba3/BB 3,250 2,000-0.92% -7.28% US900123CJ75 USD 4.25 4/14/2026 86.454 87.136 6.68 6.55 Ba3/BB 1,500 200,000-0.68% -5.47% US900123CK49 USD 4.88 10/9/2026 88.757 89.377 6.80 6.69 Ba3/BB 3,000 200,000-0.70% -6.17% US900123CP36 USD 5.13 2/17/2028 88.022 88.522 6.95 6.87 Ba3/BB 2,000 200,000-1.68% -7.10% US900123CQ19 USD 6.13 10/24/2028 0.000 - NA NA Ba3/BB 2,000 200,000 N/A N/A US900123CL22 USD 6.00 3/25/2027 94.483 94.983 6.91 6.82 Ba3/BB 3,250 200,000-0.81% -7.12% US900123CT57 USD 7.63 4/26/2029 102.750 103.250 7.23 7.16 Ba3/BB 2,000 200,000-1.44% N/A US900123AL40 USD 11.88 1/15/2030 134.250 135.040 7.25 7.17 Ba3/BB 1,500 1,000-0.86% -10.18% US900123AT75 USD 8.00 2/14/2034 104.720 105.720 7.47 7.36 Ba3/BB 1,500 2,000-1.72% -9.63% US900123AY60 USD 6.88 3/17/2036 93.500 94.500 7.56 7.45 Ba3/BB 2,750 2,000-2.57% -10.42% US900123BB58 USD 7.25 3/5/2038 97.140 97.815 7.54 7.47 Ba3/BB 1,000 2,000-2.33% -10.57% US900123BG46 USD 6.75 5/30/2040 91.750 92.500 7.53 7.46 Ba3/BB 2,000 100,000-2.13% -10.58% US900123BJ84 USD 6.00 1/14/2041 83.935 84.753 7.51 7.42 Ba3/BB 3,000 200,000-2.62% -10.67% US900123CB40 USD 4.88 4/16/2043 74.010 74.550 7.15 7.09 Ba3/BB 3,000 200,000-2.85% -8.28% US900123CG37 USD 6.63 2/17/2045 89.480 90.025 7.56 7.50 Ba3/BB 3,000 200,000-3.02% -10.18% US900123CM05 USD 5.75 5/11/2047 80.375 80.875 7.42 7.37 Ba3/BB 3,500 200,000-3.16% -10.05% XS0285127329 EUR 5.88 4/2/2019 100.190 100.395 2.10-1.62 Ba3/BB 1,250 50,000-0.32% -4.98% XS0503454166 EUR 5.13 5/18/2020 103.810 104.060 1.82 1.61 Ba3/BB 2,000 50,000 0.18% -4.37% XS0993155398 EUR 4.35 11/12/2021 103.760 104.200 2.86 2.69 Ba3/BB 1,250 100,000 0.06% -4.21% XS1057340009 EUR 4.13 4/11/2023 101.468 102.189 3.73 3.54 Ba3/BB 1,000 100,000-0.09% -5.49% XS1629918415 EUR 3.25 6/14/2025 93.170 93.670 4.53 4.43 Ba3/BB 1,000 100,000-0.09% N/A XS1303467077 USD 4.25 6/8/2021 97.657 98.032 5.37 5.19 Ba3/BB 1,000 200,000-0.71% -1.80% XS1586385178 USD 5.00 4/6/2023 96.315 96.815 6.04 5.90 Ba3/BB 1,250 200,000-0.48% -4.08% XS1141043296 USD 4.49 11/25/2024 91.697 92.322 6.24 6.10 Ba3/BB 1,000 200,000-0.66% -5.32% AKBANK XS1111101314 USD 4.00 1/24/2020 98.500 99.000 5.80 5.20 B1/B+ 500 200,000-0.38% -0.63% AKBANK USM0375YAK49 USD 5.00 10/24/2022 94.250 95.000 6.82 6.58 B1/B+ 500 150,000-0.79% -5.04% AKBANK XS1210422074 USD 5.13 3/31/2025 88.750 89.750 7.47 7.25 B1/B+ 500 200,000-1.53% -7.79% AKBANK XS1574750292 USD 7.20 3/16/2027 90.375 91.875 9.12 8.84 Caa1/B 500 200,000-1.23% -12.68% AKBANK XS1772360803 USD 6.80 4/27/2028 89.500 94.500 8.36 7.53 Caa1/B 400 200,000 0.00% -11.39% ALTERNATİFBANK XS1089556358 USD 3.13 7/22/2019 99.125 99.875 5.61 3.47 NA/A 250 200,000 0.00% N/A ALTERNATİFBANK XS1396282177 USD 8.75 4/16/2026 94.745 96.245 10.84 10.53 B2/B+ 300 200,000 0.78% -7.30% ANADOLU EFES XS0848940523 USD 3.38 11/1/2022 94.000 95.000 5.21 4.89 Ba2/NA 500 200,000-0.40% -1.44% ARÇELİK XS1109959467 EUR 3.88 9/16/2021 101.500 102.500 3.24 2.82 NA/BB+ 350 100,000 0.25% -4.58% ARÇELİK XS0910932788 USD 5.00 4/3/2023 94.875 95.875 6.46 6.16 NA/BB+ 500 200,000-0.91% -4.53% COCA-COLA XS1577950402 USD 4.22 9/19/2024 94.875 95.375 5.30 5.19 Ba2/BBB- 500 200,000-0.13% -3.31% CREDIT EUROPE BANK XS1706923148 USD 7.25 11/9/2027 83.313 85.071 10.44 10.10 B2/B+ 150 200,000 6.02% -17.45% EXPORT CREDIT BANK XS0774764152 USD 5.88 4/24/2019 100.000 100.250 5.74 3.54 B1/NA 750 200,000-0.12% -2.08% EXPORT CREDIT BANK XS1345632811 USD 5.38 2/8/2021 98.250 98.750 6.36 6.08 B1/BB- 500 200,000-0.25% -3.32% EXPORT CREDIT BANK XS1028943089 USD 5.00 9/23/2021 96.250 97.000 6.64 6.30 B1/BB- 500 200,000-0.65% -3.87% EXPORT CREDIT BANK XS1684378208 USD 4.25 9/18/2022 91.875 92.625 6.89 6.64 B1/BB- 500 200,000-0.94% N/A EXPORT CREDIT BANK XS1496463297 USD 5.38 10/24/2023 93.000 94.000 7.18 6.91 B1/BB- 500 200,000-0.40% -7.12% EXPORT CREDIT BANK XS1814962582 USD 6.13 5/3/2024 93.500 94.500 7.68 7.43 B1/BB- 500 200,000-1.32% N/A FİBABANKA XS1711581337 USD 6.00 1/25/2023 85.000 87.000 10.85 10.15 NA/B+ - 200,000 0.00% -14.25% FİBABANKA XS1386178237 USD 7.75 11/24/2027 83.250 84.500 10.74 10.50 NA/B- 300 200,000 0.68% -17.87% FİNANSBANK XS1063442484 USD 6.25 4/30/2019 100.250 100.500 4.19 2.27 Ba3/BB- 500 200,000-0.12% -1.96% FİNANSBANK XS1613091500 USD 4.88 5/19/2022 95.875 96.625 6.32 6.05 Ba3/BB- 750 200,000-0.39% -1.41% FİNANSBANK XS1959391019 USD 6.88 9/7/2024 99.000 99.500 7.10 6.99 Ba3/BB- 500 200,000 N/A N/A GARANTİ XS1084838496 EUR 3.38 7/8/2019 100.125 100.625 2.91 1.37 B1/BB- 500 100,000 0.00% -2.91% GARANTİ XS1057541838 USD 4.75 10/17/2019 99.625 100.250 5.39 4.31 B1/BB- 750 200,000 0.13% -1.36% GARANTİ USM8931TAA71 USD 6.25 4/20/2021 100.125 100.625 6.18 5.93 B1/BB- 500 200,000-0.25% -3.84% GARANTİ USM8931TAF68 USD 5.25 9/13/2022 96.000 96.750 6.55 6.30 B1/BB- 750 200,000-0.52% -4.36% GARANTİ XS1576037284 USD 5.88 3/16/2023 96.500 97.250 6.89 6.67 B1/BB- 500 200,000-0.52% -5.62% GARANTİ XS1617531063 USD 6.13 5/24/2027 86.625 88.125 8.78 8.50 B3/B+ 750 200,000-2.12% -12.39% GLOBAL LİMAN XS1132825099 USD 8.13 11/14/2021 97.375 98.875 9.25 8.60 B2/BB- 250 200,000-0.64% -4.30% HALK BANKASI XS1069383856 USD 4.75 6/4/2019 99.000 99.625 9.22 6.38 B2/B+ 500 200,000 0.00% -0.50% HALK BANKASI XS0882347072 USD 3.88 2/5/2020 94.375 95.375 10.64 9.39 B2/B+ 750 200,000-1.44% -1.56% HALK BANKASI XS1188073081 USD 4.75 2/11/2021 89.000 90.500 11.31 10.36 B2/B+ 500 200,000-2.20% -7.17% HALK BANKASI XS1439838548 USD 5.00 7/13/2021 89.625 91.125 10.10 9.32 B2/B+ 500 200,000-2.58% -7.24% İŞ BANKASI XS0982644774 USD 5.50 4/21/2019 100.000 100.250 5.38 2.99 B2/B+ 500 200,000 0.13% -1.48% İŞ BANKASI XS1121459074 USD 5.00 4/30/2020 98.500 99.250 6.39 5.69 B2/B+ 750 200,000 0.00% -1.87% İŞ BANKASI XS1079527211 USD 5.00 6/25/2021 95.250 96.000 7.29 6.92 B2/B+ 750 200,000-0.39% -4.03% İŞ BANKASI XS1390320981 USD 5.38 10/6/2021 95.250 96.000 7.44 7.11 B2/B+ 750 200,000-0.52% -4.51% İŞ BANKASI XS1508390090 USD 5.50 4/21/2022 93.354 94.125 7.96 7.66 B2/B+ 600 200,000-1.45% -6.06% İŞ BANKASI XS0847042024 USD 6.00 10/24/2022 90.125 91.125 9.28 8.93 Caa1/B 1,000 200,000-0.96% -9.19% İŞ BANKASI XS1003016018 USD 7.85 12/10/2023 94.528 95.395 9.30 9.06 Caa2/B 400 200,000 0.48% -10.36% İŞ BANKASI XS1578203462 USD 6.13 4/25/2024 89.625 90.625 8.68 8.42 B2/B+ 1,250 200,000-1.38% -9.47% İŞ BANKASI XS1623796072 USD 7.00 6/29/2028 83.750 85.250 10.00 9.73 Caa2/B 500 200,000-0.59% -15.93% KOÇ HOLDİNG XS0922615819 USD 3.50 4/24/2020 98.375 98.875 5.02 4.55 Ba2/NA 750 200,000-0.38% -0.25%

3 KOÇ HOLDİNG XS1379145656 USD 5.25 3/15/2023 96.125 97.125 6.36 6.07 Ba2/NA 750 200,000-1.28% -5.30% MERSİN LİMAN XS0957598070 USD 5.88 8/12/2020 100.375 101.375 4.92 2.48 Ba2/BB+ 450 200,000-0.25% -1.83% ODEABANK XS1655085485 USD 7.63 8/1/2027 77.000 80.000 12.40 11.73 Caa2/B- 300 200,000 0.00% -19.27% PETKİM XS1747548532 USD 5.88 1/26/2023 94.000 95.000 7.70 7.38 B1/B 500 200,000-0.66% -6.00% RONESANS XS1807502668 USD 7.25 4/26/2023 80.000 85.000 13.77 11.96 Ba3/BB 300 200,000 0.31% N/A ŞİŞECAM XS0927634807 USD 4.25 5/9/2020 99.625 100.125 4.58 4.13 Ba2/BB+ 500 200,000 0.28% -0.38% TSKB XS1117601796 USD 5.38 10/30/2019 99.250 100.000 6.60 5.36 B2/B+ 350 200,000-0.13% -2.22% TSKB XS1219733752 USD 5.13 4/22/2020 98.625 99.625 6.43 5.47 B2/B+ 350 200,000 1.02% -1.87% TSKB XS1412393172 USD 4.88 5/18/2021 95.625 96.625 7.07 6.56 B2/B+ 300 200,000-0.39% -3.04% TSKB XS1750996206 USD 5.50 1/16/2023 90.250 91.250 8.53 8.20 B2/B+ 350 200,000-0.82% -7.79% TSKB XS1584113184 USD 7.63 3/29/2027 87.000 89.000 10.28 9.88 Caa2/B 300 200,000 0.00% -14.29% TURKCELL XS1298711729 USD 5.75 10/15/2025 93.750 94.750 6.95 6.75 Ba2u/BB+ 500 200,000-1.70% -9.96% TURKCELL XS1803215869 USD 5.80 4/11/2028 89.250 90.250 7.45 7.29 NA/BB+ 500 200,000-2.72% N/A TÜPRAŞ XS1686704948 USD 4.50 10/18/2024 90.125 91.125 6.64 6.41 Ba2/BB+ 700 200,000-1.37% -6.49% TÜRK TELEKOM XS1028952155 USD 3.75 6/19/2019 99.900 100.000 4.10 3.72 NA/BB+ 500 200,000 0.25% -0.20% TÜRK TELEKOM XS1028951264 USD 4.88 6/19/2024 91.250 92.250 6.88 6.64 NA/BB+ 500 200,000 0.27% -7.24% VAKIFLAR BANKASI XS1077629225 EUR 3.50 6/17/2019 100.125 100.625 2.94 1.06 B1/B+ 500 100,000-0.12% -2.08% VAKIFLAR BANKASI XS1403416222 EUR 2.38 5/4/2021 98.417 99.037 3.15 2.84 Ba1/NA 500 100,000-0.28% -3.78% VAKIFLAR BANKASI XS1508914691 USD 5.50 10/27/2021 96.250 97.000 7.09 6.77 B1/B+ 500 200,000-0.77% -3.63% VAKIFLAR BANKASI XS1622626379 USD 5.63 5/30/2022 94.625 95.625 7.54 7.17 B1/B+ 500 200,000-1.30% -4.66% VAKIFLAR BANKASI XS0849728190 USD 6.00 11/1/2022 91.000 92.000 8.95 8.61 Caa1/B 672 200,000-1.89% -7.38% VAKIFLAR BANKASI XS1760780731 USD 5.75 1/30/2023 92.500 93.500 8.04 7.72 B1/B+ 650 200,000-1.20% -5.73% VAKIFLAR BANKASI XS1175854923 USD 6.88 2/3/2025 94.125 95.125 9.08 8.85 Caa2/B 500 200,000 1.48% -6.58% VAKIFLAR BANKASI XS1551747733 USD 8.00 11/1/2027 89.125 90.625 10.10 9.82 Caa2/B 228 200,000-1.79% -13.37% YAPI KREDİ XS1028938915 USD 5.13 10/22/2019 99.750 100.250 5.54 4.69 B1/BB- 550 200,000 0.00% -1.36% YAPI KREDİ XS0874840688 USD 4.00 1/22/2020 98.250 98.875 6.12 5.36 B1/BB- 500 200,000-0.38% -0.25% YAPI KREDİ XS0861979440 USD 5.50 12/6/2022 90.250 91.250 8.61 8.27 B2/B+ 1,000 200,000-0.96% -6.96% YAPI KREDİ XS1571399754 USD 5.75 2/24/2022 95.875 96.875 7.33 6.94 B1/BB- 600 200,000-1.29% -4.48% YAPI KREDİ XS1634372954 USD 5.85 6/21/2024 91.000 91.750 7.97 7.79 B1/BB- 500 200,000-0.55% -7.14% YAPI KREDİ XS1376681067 USD 8.50 3/9/2026 96.500 98.500 10.14 9.34 B3/B+ 500 200,000-1.03% -9.28% YAPI KREDİ XS1788516679 USD 6.10 3/16/2023 94.125 95.125 7.84 7.53 B1/BB- 500 200,000-1.05% N/A YAPI KREDİ XS1867595750 USD 13.88 PERP 104.750 105.750 12.52 12.25 Caa1u/NA 650 200,000-1.87% N/A YAŞAR HOLDİNG XS1132450427 USD 8.88 5/6/2020 60.000 64.000 62.73 55.21 WR/B- 250 200,000-4.00% -40.96% ZİRAAT BANKASI XS1083936028 USD 4.25 7/3/2019 99.500 100.000 5.88 4.21 B1/B+ 750 200,000 0.13% -0.38% ZİRAAT BANKASI XS1223394914 USD 4.75 4/29/2021 95.875 96.625 6.87 6.47 B1/B+ 500 200,000-0.13% -3.16% ZİRAAT BANKASI XS1605397394 USD 5.13 5/3/2022 94.250 95.000 7.20 6.92 B1/B+ 600 200,000 0.00% -5.04% ZİRAAT BANKASI XS1691349010 USD 5.13 9/29/2023 91.500 92.250 7.36 7.15 B1/B+ 500 200,000-0.27% -6.27% (Sukuk) ALBARAKA XS1082151868 USD 6.25 6/30/2019 99.500 100.500 7.89 4.47 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 0.00% -11.21% BANK ASYA XS0907295942 USD 0.00 3/28/2023 1.000 11.000 270.35 149.54 WR/NA 250 200,000 0.00% -97.50% KUVEYT TÜRK XS1079236169 USD 5.16 6/26/2019 99.625 100.375 6.44 3.78 NA/BB- 500 200,000 0.00% -1.85% KUVEYT TÜRK XS1505149325 USD 5.14 11/2/2021 98.250 100.250 5.86 5.03 NA/BB- 500 200,000 0.00% -3.44% KUVEYT TÜRK XS1323608635 USD 7.90 2/17/2026 99.000 101.000 8.47 7.33 NA/B+ 350 200,000 0.00% -2.22% TÜRKİYE FİNANS XS1057852912 USD 5.38 4/24/2019 100.000 100.500 5.26 0.85 NA/BB- 500 200,000 0.00% -1.60% Brezilya US105756BT66 BRL 8.50 1/5/2024 102.250 102.500 8.08 8.02 Ba2/BB- 3,150 350,000 0.99% 1.87% US105756AR10 USD 8.88 4/15/2024 124.500 125.000 3.56 3.47 Ba2/BB- 1,029 1,000 1.55% -1.19% US105756BV13 USD 4.25 1/7/2025 100.500 101.000 4.15 4.05 Ba2/BB- 4,300 200,000-0.15% 0.75% US105756AE07 USD 10.13 5/15/2027 137.650 138.650 4.55 4.43 Ba2/BB- 838 1,000 0.36% -1.85% US105756BB58 USD 8.25 1/20/2034 126.350 127.350 5.61 5.53 Ba2/BB- 1,502 1,000 0.04% -0.32% BANCO DO BRASIL USP3772WAF97 USD 9.00 PERP 107.250 108.000 7.31 7.14 B2/NA 2,170 200,000 1.90% 0.47% BRASKEM USG1315RAD38 USD 5.75 4/15/2021 103.500 104.250 3.98 3.61 Ba1/BBB- 1,000 200,000 0.00% -0.72% BRASKEM USG1315RAG68 USD 5.38 5/2/2022 103.250 103.750 4.25 4.09 Ba1/BBB- 500 200,000 0.24% -0.48% BRASKEM US10553YAF25 USD 6.45 2/3/2024 108.200 108.950 4.56 4.39 Ba1/BBB- 750 200,000 0.19% -1.64% BRF USP1905CAE05 USD 4.75 5/22/2024 94.600 95.250 5.97 5.82 Ba2/BBB- 750 200,000 0.48% 1.72% CSN ISLANDS XI USG2583XAA93 USD 6.88 9/21/2019 99.750 100.750 7.37 5.39 B3/B- *- 547 100,000 0.25% 0.00% FIBRIA US31572UAE64 USD 5.25 5/12/2024 104.450 105.200 4.28 4.12 Ba1/BBB- 600 2,000 1.16% 0.92% ITAU UNIBANCO US46556MAF95 USD 5.65 3/19/2022 103.625 104.125 4.35 4.18 Ba3/B+ 1,250 200,000 0.00% 0.85% MARFRIG USN54468AD05 USD 6.88 6/24/2019 100.400 100.900 5.33 3.55 B2/BB- 508 200,000-0.35% -2.38% PETROBRAS US71645WAR25 USD 5.38 1/27/2021 102.550 103.000 3.94 3.70 Ba2/BB- 1,104 2,000-0.05% -0.87% PETROBRAS US71647NAP42 USD 8.38 5/23/2021 109.350 109.700 3.88 3.72 Ba2/BB- 902 2,000-0.05% -2.89% PETROBRAS US71647NAF69 USD 4.38 5/20/2023 100.000 100.500 4.37 4.24 Ba2/BB- 3,117 2,000 0.86% 2.30% PETROBRAS US71647NAM11 USD 6.25 3/17/2024 105.350 105.900 5.03 4.91 Ba2/BB- 2,440 2,000 0.48% 0.67% PETROBRAS XS0716979595 EUR 5.88 3/7/2022 112.500 113.000 1.55 1.39 Ba2/BB- 600 100,000-0.13% -0.88% PETROBRAS XS0982711714 EUR 4.75 1/14/2025 109.650 110.250 2.93 2.82 Ba2/BB- 800 100,000 0.27% 1.39% PETROBRAS US71647NAN93 USD 6.85 6/5/2115 97.650 98.250 7.01 6.97 Ba2/BB- 2,500 2,000 1.51% 3.61% SUZANO USG8600UAA19 USD 5.88 1/23/2021 104.100 104.850 3.57 3.16 Ba1/BBB- 186 100,000 0.34% -3.83% VOTORANTIM USP98088AA83 USD 7.25 4/5/2041 109.250 110.000 6.46 6.40 Ba2/BBB- 610 200,000 2.58% 3.55% VOTORANTIM USP98088AA83 USD 7.25 4/5/2041 109.250 110.000 6.46 6.40 Ba2/BBB- 610 200,000 2.58% 3.55% VALE US91911TAM53 USD 4.38 1/11/2022 100.450 101.050 4.20 3.98 Ba1/BBB- *- 1,069 2,000 0.55% -1.37% Rusya XS0504954347 USD 5.00 4/29/2020 102.011 102.242 3.16 2.96 Baa3/BBB- 3,500 100,000-0.11% -1.63% XS0971721450 USD 4.88 9/16/2023 104.156 104.243 3.86 3.84 Baa3/BBB- 3,000 200,000 0.65% -1.73% XS0088543193 USD 12.75 6/24/2028 159.980 160.980 4.70 4.60 Baa3/BBB- 2,500 10,000 0.06% -4.50% XS0971721963 USD 5.88 9/16/2043 111.710 112.460 5.04 4.99 Baa3/BBB- 1,500 200,000 1.60% -0.83% ALFA BANK XS0620695204 USD 7.75 4/28/2021 105.222 106.722 5.12 4.39 Ba1/BB+ 1,000 200,000-0.43% -4.00% GAZPROM XS0424860947 USD 9.25 4/23/2019 100.403 100.778 5.32 1.98 Baa2/BBB- 2,250 100,000-0.39% -5.65%

4 GAZPROM XS0906946008 EUR 3.39 3/20/2020 102.350 103.850 1.05-0.38 Baa2/BBB- 1,000 100,000-0.27% -2.70% GAZPROM XS0290580595 USD 6.51 3/7/2022 105.560 106.060 4.50 4.32 Baa2/BBB- 1,300 100,000 0.20% -2.61% GAZPROMBANK XS0779213460 USD 7.25 5/3/2019 99.750 101.250 8.87-1.86 B2/BB 500 200,000-0.31% -3.53% GAZPROMBANK XS0975320879 USD 7.50 12/28/2023 98.629 100.129 NA NA WR/WD - 200,000-0.39% -3.46% LUKOIL XS0461926569 USD 7.25 11/5/2019 102.025 102.775 4.01 2.85 Baa2/BBB+ 600 100,000-0.17% -3.99% LUKOIL XS0554659671 USD 6.13 11/9/2020 103.079 103.829 4.17 3.71 Baa2/BBB+ 1,000 200,000 0.12% -3.17% LUKOIL XS0304274599 USD 6.66 6/7/2022 106.873 107.623 4.35 4.11 Baa2/BBB+ 500 100,000 0.30% -3.67% LUKOIL XS0919504562 USD 4.56 4/24/2023 100.360 101.110 4.47 4.26 Baa2/BBB+ 1,500 200,000 0.59% -1.72% NORILSK XS1298447019 USD 6.63 10/14/2022 106.070 107.070 4.76 4.47 Baa2/BBB- *- 1,000 200,000 0.18% -3.51% PROMSVYAZ BANK XS1086084123 USD 10.50 7/30/2021 4.010 54.010 314.20 43.27 WR/WD - 200,000 0.00% 40000.00% ROSNEFT XS0861981180 USD 4.20 3/6/2022 97.840 99.340 4.99 4.44 Baa3/WD 2,000 200,000 0.43% -1.78% RUSSIAN AGRI BANK XS0979891925 USD 8.50 10/16/2023 102.718 104.218 7.78 7.40 NR/NA 500 200,000 0.27% -7.99% SBERBANK XS0799357354 USD 5.18 6/28/2019 99.622 101.122 6.44 1.27 Baa3/BBB- 1,000 200,000-0.16% -2.69% SBERBANK XS0638572973 USD 5.72 6/16/2021 101.959 103.459 4.79 4.09 Baa3/BBB- 1,000 200,000 0.05% -3.40% SBERBANK XS0848530977 USD 5.13 10/29/2022 100.438 101.938 4.99 4.54 Ba1/BB+ 2,000 200,000 1.11% -1.52% SBERBANK XS0935311240 USD 5.25 5/23/2023 100.650 102.150 5.07 4.68 NA/BB+ 1,000 200,000 1.13% -2.38% SBERBANK XS1032750165 USD 5.50 2/26/2024 99.229 100.729 NA NA NA/WD - 200,000-0.09% -2.09% VIP XS0643183220 USD 7.50 3/1/2022 109.500 109.711 4.07 4.00 Ba2/BB+ 417 200,000-0.15% -1.47% VTB BANK XS0842078536 USD 6.95 10/17/2022 101.383 102.883 6.51 6.04 Ba2/WD 1,412 200,000-0.38% -5.88% Venezuella US922646AS37 USD 9.25 9/15/2027 29.879 31.695 36.25 34.48 C/WD 4,000 1,000 0.09% 4.31% US922646BL74 USD 9.38 1/13/2034 31.040 33.029 28.79 27.30 C/WD 1,500 2,000 6.85% 2.28% USP17625AB33 USD 9.25 5/7/2028 30.289 31.877 33.82 32.42 C/WD 2,000 100 4.34% 9.02% USP17625AC16 USD 12.75 8/23/2022 29.791 31.871 60.01 56.81 C/WD 3,000 100 1.19% -0.46% USP17625AD98 USD 11.95 8/5/2031 30.092 31.338 36.17 34.97 C/WD 4,200 100-0.08% -0.60% USP17625AE71 USD 11.75 10/21/2026 29.989 31.875 43.03 40.88 C/WD 3,000 100 1.76% 0.04% USP97475AN08 USD 7.75 10/13/2019 NA NA Invalid Ove A Invalid Ove C/WD 2,496 100 N/A N/A PDVSA USP7807HAM71 USD 12.75 2/17/2022 NA NA Invalid Ove A Invalid Ove NA/C 3,000 100 N/A N/A PDVSA XS0294364954 USD 5.38 4/12/2027 NA NA Invalid Ove A Invalid Ove NA/C 3,000 400 N/A N/A Meksika US91087BAA89 USD 3.60 1/30/2025 98.000 98.400 3.98 3.91 A3/BBB+ 2,454 200,000 0.67% -0.25% US91086QBF46 USD 4.60 1/23/2046 92.050 92.700 5.15 5.10 A3/BBB+ 3,000 200,000 0.77% -1.68% BBVA BANCOMER USP16259AB20 USD 6.50 3/10/2021 104.250 104.750 4.25 3.99 Baa2/BBB- 1,250 150,000 0.48% -4.14% BBVA BANCOMER USP16259AK29 USD 4.38 4/10/2024 100.838 100.899 4.19 4.18 A3/A- 750 150,000 1.00% -1.46% CFELEC USP30179AM09 USD 4.88 1/15/2024 100.725 101.475 4.70 4.53 Baa1/BBB+ 1,250 200,000 0.60% -1.97% CEMEX USP2253TJE03 USD 5.70 1/11/2025 101.425 102.175 5.28 5.07 NA/BB- 1,071 200,000 1.81% -2.00% CEMEX USU12763AD75 USD 6.00 4/1/2024 102.225 102.975 5.20 4.92 NA/BB- 1,000 200,000 0.74% -0.75% PEMEX XS1379158048 EUR 5.13 3/15/2023 106.650 107.400 3.32 3.13 Baa3/BBB- 900 100,000 0.76% N/A PEMEX US71654QBG64 USD 3.50 1/30/2023 93.500 93.850 5.38 5.27 Baa3/BBB- 2,100 10,000 0.32% -2.71% PEMEX US71656MAF68 USD 6.63 PERP 81.250 82.250 8.24 8.14 Baa3/BBB- 1,000 10,000-3.56% -18.75% Arjantin US040114GL81 USD 8.28 12/31/2033 82.700 83.700 11.26 11.06 B2/WD 3,966 1-5.65% -24.99% US040114GK09 USD 2.50 12/31/2038 57.150 57.750 8.79 8.69 B2/WD 5,297 1-2.64% -16.33% YPF SOCIEDAD USP989MJBE04 USD 8.50 7/28/2025 95.700 96.450 9.41 9.25 B2/B 1,500 1,000-2.10% -13.59% Güney Afrika US836205AN45 USD 5.50 3/9/2020 101.520 101.820 3.91 3.60 Baa3/BB+ 1,619 100,000-0.09% -2.08% US836205AQ75 USD 4.67 1/17/2024 99.872 100.372 4.69 4.58 Baa3/BB+ 1,500 100,000 0.23% -0.96% US836205AR58 USD 5.88 9/16/2025 104.410 104.910 5.07 4.98 Baa3/BB+ 2,000 200,000 0.13% -2.36% US836205AS32 USD 5.38 7/24/2044 91.428 92.178 6.04 5.98 Baa3/BB+ 1,000 200,000-0.39% -4.81% ANGLOGOLD US03512TAC53 USD 5.13 8/1/2022 103.307 103.937 4.07 3.87 Baa3/NA 750 1,000 1.26% -0.13% ESKOM XS0579851949 USD 5.75 1/26/2021 98.715 99.715 6.49 5.91 B3/NA 1,750 200,000 1.98% -0.58% ESKOM XS1187065443 USD 7.13 2/11/2025 99.802 100.552 7.16 7.01 B3/NA 1,250 200,000 3.77% -2.99% TRANSNET XS0809571739 USD 4.00 7/26/2022 97.504 98.254 4.81 4.56 Baa3/BB+u 1,000 200,000 1.56% -0.64% ZAR SOV CAPITAL FUND XS1113141441 USD 3.90 6/24/2020 99.583 100.208 4.24 3.73 Baa3/BB+ 500 200,000 0.20% -1.00% Azerbaycan XS1044540547 USD 4.75 3/18/2024 101.903 102.403 4.32 4.21 Ba2/BB+ 1,250 200,000-0.19% 0.90% SOCAR XS0903465127 USD 4.75 3/13/2023 100.797 101.547 4.53 4.32 Ba2/BB+ 1,000 200,000 0.15% 1.02% SOCAR XS1196496688 USD 6.95 3/18/2030 109.986 110.986 5.72 5.60 NR/BB+ 750 200,000 0.40% 0.50%

5 Gürcistan GEORGIAN RAILWAY XS0800346362 USD 7.75 7/11/2022 106.672 106.951 5.52 5.43 NA/BB- 500 200,000 1.04% -3.18% Kazakistan XS1120709669 USD 3.88 10/14/2024 102.136 102.515 3.45 3.38 Baa3/BBB 1,500 200,000 0.26% 0.17% XS1263054519 USD 5.13 7/21/2025 107.689 108.189 3.75 3.67 Baa3/BBB 2,500 200,000 0.17% -1.23% XS1120709826 USD 4.88 10/14/2044 104.258 104.613 4.59 4.57 Baa3/BBB 1,000 200,000 0.24% 3.17% XS1263139856 USD 6.50 7/21/2045 125.691 125.994 4.78 4.76 Baa3/BBB 1,500 200,000 0.42% 2.96% KAZAGRO XS0934609016 USD 4.63 5/24/2023 98.500 103.500 5.02 3.71 Ba1/WD - 200,000 0.00% -1.50% KAZKOMMERTSBANK XS0867478124 USD 5.50 12/21/2022 99.250 100.250 5.72 2.14 NA/BB 548 1-0.25% -0.13% Yunanistan GR0114030555 EUR 3.50 1/30/2023 104.250 104.250 2.34 2.34 B1/BB- 4,356 1 N/A N/A GR0124034688 EUR 3.75 1/30/2028 100.100 100.100 3.74 3.74 B1/BB- 5,963 1 N/A N/A GR0128015725 EUR 3.90 1/30/2033 94.800 94.800 4.41 4.41 B1/BB- 6,091 1 N/A N/A GR0133011248 EUR 4.00 1/30/2037 91.500 91.500 4.71 4.71 B1/BB- 4,805 1 N/A N/A GR0138015814 EUR 4.20 1/30/2042 91.350 91.350 4.83 4.83 B1/BB- 4,604 1 N/A N/A GRR000000010 EUR 0.00 10/15/2042 0.296 0.366 NA NA NA/NA 62,383 100 14.29% -24.87% Çin BANK OF CHINA US06120TAA60 USD 5.00 11/13/2024 104.559 104.670 4.09 4.07 Baa2/BBB+ 3,000 200,000 0.41% 0.61% CNPC HK USG21895AC44 USD 5.95 4/28/2041 119.000 120.123 4.57 4.50 A2/A+ 500 200,000-0.43% -2.29% HUARONG FINANCE XS1165659357 USD 4.50 1/16/2020 100.363 100.450 4.05 3.94 Baa1/A 1,200 200,000 0.01% -1.08% IND & COMM BANK USY39656AA40 USD 6.00 PERP 101.200 101.350 4.26 4.05 Ba1/NA 2,940 200,000 0.00% -1.75% Hindistan JSW STEEL LTD XS1133588233 USD 4.75 11/12/2019 99.625 100.250 5.32 4.35 Ba2/BB 500 200,000 0.00% -1.24% RELIANCE HOLDINGS US759468AC51 USD 5.40 2/14/2022 104.179 104.449 3.87 3.77 Baa2/NA 1,500 250,000 0.40% -1.57% Endonezya PERTAMINA USY7138AAA89 USD 5.25 5/23/2021 103.250 103.625 3.69 3.51 Baa2/BBB 1,000 200,000 0.12% -1.20% Peru UNACEM USP9451YAC77 USD 5.88 10/30/2021 102.382 102.816 4.31 3.62 Ba2/NA 225 150,000 0.14% -0.71% Birleşik Arap Emirlikleri (Sukuk) JAFZ SUKUK 2019 XS0794821453 USD 7.00 6/19/2019 100.547 101.547 4.82 1.10 Baa2/BBB+ 237 200,000-0.32% -3.72% EMAAR SUKUK LTD XS0805885349 USD 6.40 7/18/2019 100.633 101.633 4.49 1.62 Baa3/NA 500 200,000-0.27% -3.38% DIB SUKUK LTD XS1241110300 USD 2.92 6/3/2020 98.810 99.310 3.93 3.50 A3/A 750 200,000 0.18% 0.06% EMG SUKUK XS1075401726 USD 4.56 6/18/2024 101.375 101.875 4.27 4.16 Baa2/NA 750 200,000 1.12% -0.61% ABU DHABI NATIONAL XS0863524277 USD 3.63 1/12/2023 100.375 100.875 3.52 3.38 A3/A 1,250 200,000 0.63% 1.13% EMIRATES XS0885065887 USD 4.50 2/6/2025 99.250 99.750 4.65 4.55 NA/NA 429 200,000 0.00% 0.76%