ULUSLARARASI SERMAYE PİYASALARI - GÜNLÜK RAPOR 18/12/2017

1 ULUSLARARASI SERMAYE PİYASALARI - GÜNLÜK RAPOR 18/12/2017 Eurotahvil Piyasaları Ekonomik veri akışının görece sakin olduğu işlem gününde piyasaların yavaş yavaş tatil havasına girmesiyle özellikle tahvil fiyatlamalarında çok sert hareketler izlenmedi. ABD 10 yıllık getirileri yatay hareketle 2.35 seviyelerinden işlem görürken Avrupa 10 yıllıklarında da çok sert hareketler izlenmedi. Önümüzdeki hafta ABD tarafında netleşmesi beklenen vergi tasarısı en önemli gündem maddesi olacak ve fiyatlamalar üzerinde etkili olacaktır. Türkiye tarafında ise 5 yıllık CDS 1 günlük aranın ardından aşağı yönlü hareketine devam ediyor ve yaklaşık 3 baz puanlık gerilemeyle 177 seviyesinin hemen altına gelmiş durumda. Şirket tahvillerine baktığımızda kısa vadelerde önemli hareketler yok, İş 24 kıymeti hafif primle 101 seviyesinin hemen üzerinde seyrederken 7 kuponlu İş Bankası 2028 kıymeti ise 100,35 seviyelerinde seyretti. 2022 vade Vakıfbank ise 99 seviyesinin altında ve yatay seyir halinde. Uzun vadeli Türkiye tahvillerine baktığımızda ise 2047 vade de yaklaşık 50c lik bir artış söz konusu ve 97 seviyesinin üzerine çıkmış durumda. ABD & Avrupa Hisse Senedi Piyasaları 15 Aralık Cuma günü ABD endeksleri Vergi Paketini Cumhuriyetçilerin açıklayacağını bildirmesi ve Senatör Rubio nun paketi destekleyeceğini açıklamasıyla hacim eşliğinde sert primlendi. Avrupa endeksleri günü karışık bir seyirle kapatırken, İngiltere FTSE 100 endeksi günü %0,57 primle kapatarak Avrupa endeksleri arasında en primli endeks oldu. ABD endekslerinde Nasdaq 100 endeksi günü %1,17 primle 6936,6 seviyesinden sonlandırdı.s&p 500 endeksi günü %0,89 primle kapatırken 2685 seviyesi yeni direnç olarak takip edilebilir. VIX endeksi günü %9,06 düşüşle 9,54 seviyesinden kapattı. ABD S&P 500 endeksinde yer alan 10 sektörden sadece akaryakıt sektörü %0,01 ile düşüş yaşadı. Teknoloji %1,23, sağlık %1,09 telekom %1,07 ve mali sektör de %0,92 primlendi. Under Armour %9,77 primlenerek günün en fazla değer kazanan hissesi oldu. Günün en fazla değer kaybeden hissesi ise %7,64 ile CSX hissesi oldu. Dow Jones endeksinde ise sadece temel maddeler sektörü değer kaybetti. Mali sektör %1,1, teknoloji de %0,81 primlendi. 30 hisse arasında 4 hisse değer kaybı yaşadı. IBM %0,97 ile en fazla değer yitiren hisse oldu. Intel günü %3,01 ile en fazla değer kazanan hisse olarak kapattı. Microsoft %2,55, Pfezer %2,03, United Technology ise %1,95 primlendi. Apple %1,02, JPMorgan %1,41 artış ile günü tamamladı. FTSE100 endeksinde yer alan 10 sektörden sadece mali sektör %0,09 ile günü eksi alanda kapattı. Temel maddeler %1,68, akaryakıt ise %0,88 yükselişle sonlandırdı. Sky Plc %2,83 ile en primli hisse oldu. Royal Dutch Shell %1,4, Unilever %1,35 primlendi. HSBC %0,66 değer kaybetti. DAX endeksinde yer alan 9 sektörden 6 sı primlendi. Mali sektör %0,77, altyapı %0,71 değer kazandı. Telekom %0,72 düşüş yaşadı. Emtia & FX Vadeli Kontratları (Futures) FOMC para politikası kararı ardından 93,28 seviyesine kadar gerileyen Dolar endeksinde bugün yükseliş hakimdi. Yaklaşık %0,46 oranında değer kazanan endeks, gün içerisinde 94,00 seviyesini test etti ve 93,93 seviyesinden günü sonlandırdı. Dolar daki değer kazancıyla birlikte değerli metallerde yükseliş sınırlı kaldı. Gün içerisinde $1260 üzerini test eden ancak burada kalıcı olamayan Altın, $1255 seviyesinden günü sonlandırdı. Yukarı yönlü hareketin devamında $1260 üzerinde kalıcılık sağlanması halinde 200 günlük ortalamaya denk gelen $1268 direnci hedef haline gelebilir. Dün $56,00 seviyesinden gelen alımlarla toparlanan aktif vadeli WTI petrolde ise yükseliş bugün de devam etti. Güne $57,15 seviyesinden başlayan emtia yaklaşık 28 cent primlenerek haftayı $57,32 seviyesinden sonlandırdı. Brent petrolde ise daha yatay bir görünüm vardı ve aktif vadeli Brent petrol kontratı günü yaklaşık $63,24 seviyesinde kapattı. G10 para birimleri içerisinde %0,17 ile dolara karşı değer kazanan tek para birimi Yeni Zelanda Doları (NZD) olurken, Sterlin %0,83, Euro ise %0,17 değer kaybetti. Gün içerisinde 1,1812 seviyesine kadar yükselen EURUSD paritesi akşam saatlerinde gerileyerek haftayı yaklaşık 1,1755 seviyesinden sonlandırdı. 1,3448 seviyesine kadar yükselen GBPUSD paritesi ise günün ikinci yarısında değer kaybederek 1,3300 seviyesine kadar gerileme gösterdi. Yeni haftanın ilk işlem gününde Euro Bölgesi nde açıklanacak Kasım ayı tüketici enflasyonu dışında pariteler üzerinde etkili olabilecek önemli bir veri bulunmuyor. Benchmark Tahviller Fiyat Getiri Türkiye 106.294 5.102 Brezilya 100.750 4.501 Rusya 102.929 3.856 Güney Afrika 101.560 4.573 ABD 98.938 2.371 Almanya 101.827 0.306 5 Yıllık CDS GIP Değişim (bps) Türkiye 176-4 Brezilya 166 1 Rusya N/A N/A Güney Afrika N/A N/A Hisse Senedi Piyasaları Kapanış Değişim % Dow Jones 24,651.74 0.58 S&P 500 2,675.81 0.90 NASDAQ 6,936.58 1.17 Almanya 13,230.30 0.97 İngiltere 7,532.44 0.56 Fransa 5,415.35 1.23 Japonya 22,901.77 1.55 Şangay 3,267.92 0.05 Hong Kong 29,050.41 0.70 Brezilya 72,607.70 0.25 Emtia Piyasaları Kapanış Değişim % Petrol 57.300 0.46 Altın 1,255.450 0.20 Gümüş 16.071 1.11 Bakır 6,886.00 1.37 Döviz Dünkü Seviye Değişim % EUR/USD 1.1749-0.25 USD/JPY 112.6000 0.19 USD/CAD 1.2866 0.54 GBP/USD 1.3320-0.83 AUD/USD 0.7646-0.26 NZD/USD 0.6993 0.14 USD/CNH 6.6171-0.01 USD/TRY 3.8524-0.64 USD/RUB 58.6821 0.07 USD/ZAR 13.0135-3.05 Futures Dünkü Seviye Değişim % Dow Jones Mini 24,677.00 0.49 S&P 500 Mini 2,682.00 0.98 DAX 13,099.00 0.14 EUR/USD 1.1845-0.25 TREASURY 10Y 124.42-0.11

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 US900123BA75 USD 6.75 4/3/2018 101.116 101.216 2.78 2.44 Ba1/BB+ 2,250 100,000-0.24% -3.02% US900123BD15 USD 7.00 3/11/2019 104.600 104.830 3.14 2.95 Ba1/BB+ 1,500 100,000 0.14% -1.23% US900123BF62 USD 7.50 11/7/2019 107.520 107.820 3.34 3.18 Ba1/BB+ 1,500 100,000 0.11% -1.22% US900123AX87 USD 7.00 6/5/2020 108.050 108.300 3.55 3.45 Ba1/BB+ 2,000 2,000 0.42% 0.84% US900123BH29 USD 5.63 3/30/2021 105.200 105.450 3.92 Requesting D Ba1/BB+ 2,000 100,000 0.55% 3.29% US900123BY51 USD 5.13 3/25/2022 103.550 103.870 Requesting Requesting D Ba1/BB+ 1,000 200,000 0.49% 5.23% US900123BZ27 USD 6.25 9/26/2022 108.320 108.720 4.30 Requesting D Ba1/BB+ 2,500 200,000 0.67% 5.11% US900123CA66 USD 3.25 3/23/2023 94.500 94.900 4.43 4.34 Ba1/BB+ 1,500 200,000 1.34% 7.69% US900123CF53 USD 5.75 3/22/2024 105.600 106.000 Requesting 4.63 Ba1/BB+ 2,500 200,000 1.29% 6.40% US900123AW05 USD 7.38 2/5/2025 115.000 115.400 4.86 4.80 Ba1/BB+ 3,250 2,000 1.63% 6.24% US900123CJ75 USD 4.25 4/14/2026 95.150 95.550 Requesting 4.91 Ba1/BB+ 1,500 200,000 1.98% 8.49% US900123CK49 USD 4.88 10/9/2026 98.500 98.900 5.09 Requesting D Ba1/BB+ 3,000 200,000 2.28% 8.06% US900123CL22 USD 6.00 3/25/2027 106.300 106.620 5.14 5.09 Ba1/BB+ 3,250 200,000 2.06% N/A US900123AL40 USD 11.88 1/15/2030 156.850 157.450 5.40 5.35 Ba1/BB+ 1,500 1,000 1.85% 6.12% US900123AT75 USD 8.00 2/14/2034 122.550 123.200 Requesting 5.77 Ba1/BB+ 1,500 2,000 2.51% 9.27% US900123AY60 USD 6.88 3/17/2036 111.150 111.770 Requesting Requesting D Ba1/BB+ 2,750 2,000 3.01% 10.54% US900123BB58 USD 7.25 3/5/2038 116.100 116.800 Requesting 5.82 Ba1/BB+ 1,000 2,000 3.20% 11.37% US900123BG46 USD 6.75 5/30/2040 109.800 110.450 5.95 5.90 Ba1/BB+ 2,000 100,000 3.10% 11.98% US900123BJ84 USD 6.00 1/14/2041 100.800 101.350 5.94 Requesting D Ba1/BB+ 3,000 200,000 3.28% 12.25% US900123CB40 USD 4.88 4/16/2043 87.250 87.750 Requesting Requesting D Ba1/BB+ 3,000 200,000 3.38% 12.00% US900123CG37 USD 6.63 2/17/2045 107.500 108.000 6.06 Requesting D Ba1/BB+ 3,000 200,000 3.46% 10.94% US900123CM05 USD 5.75 5/11/2047 96.900 97.400 5.97 5.94 Ba1/BB+ 3,500 200,000 3.75% N/A XS0285127329 EUR 5.88 4/2/2019 106.402 106.902 0.83 0.46 Ba1/BB+ 1,250 50,000 0.00% -1.93% XS0503454166 EUR 5.13 5/18/2020 109.250 109.750 Requesting 1.00 Ba1/BB+ 2,000 50,000 0.69% N/A XS0993155398 EUR 4.35 11/12/2021 109.100 109.500 Requesting 1.80 Ba1/BB+ 1,250 100,000 1.02% N/A XS1057340009 EUR 4.13 4/11/2023 107.750 108.250 2.54 2.45 Ba1/BB+ 1,000 100,000 1.41% N/A XS1629918415 EUR 3.25 6/14/2025 100.750 101.150 3.13 3.07 Ba1/BB+ 1,000 100,000 1.97% N/A AKBANK USM0300LAC02 USD 6.50 3/9/2018 100.750 101.100 3.00 1.45 Ba1/BB+ 500 150,000-0.05% -1.71% AK FINANSAL XS0914394688 USD 4.13 4/17/2018 100.200 100.600 Requesting 2.25 NA/BB+ 250 200,000 0.10% 1.47% AKBANK XS1111101314 USD 4.00 1/24/2020 100.520 100.970 Requesting Requesting D Ba1/BB+ 500 200,000 1.13% 4.00% AKBANK USM0375YAK49 USD 5.00 10/24/2022 101.000 101.500 4.76 4.65 Ba1/BB+ 500 150,000 1.49% 7.39% AKBANK XS1210422074 USD 5.13 3/31/2025 98.400 98.900 5.39 Requesting D Ba1/BB+ 500 200,000 2.18% 9.88% AKBANK XS1574750292 USD 7.20 3/16/2027 105.300 105.900 5.77 Requesting D B1/BB 500 200,000 1.64% N/A ALBARAKA XS1082151868 USD 6.25 6/30/2019 99.150 100.050 6.84 6.21 NA/NA 350 200,000-0.10% -0.15% ALBARAKA XS0927211754 USD 7.75 5/7/2023 92.000 95.000 10.91 10.15 NA/NA 200 200,000 0.00% -3.46% ALBARAKA XS1301525207 USD 10.50 11/30/2025 98.000 101.000 Requesting 10.09 NA/NA 250 200,000 3.16% -9.68% ALTERNATİFBANK XS1089556358 USD 3.13 7/22/2019 99.203 100.203 3.64 2.99 NA/A 250 200,000 0.36% 0.46% ALTERNATİFBANK XS1396282177 USD 8.75 4/16/2026 103.800 104.500 7.43 7.20 Ba3/BB+ 300 200,000 0.53% 1.22% ANADOLU EFES XS0848940523 USD 3.38 11/1/2022 98.000 98.600 Requesting 3.69 Baa3/NA 500 200,000 1.55% 10.73% ARÇELİK XS1109959467 EUR 3.88 9/16/2021 106.400 106.900 Requesting 1.94 NA/BB+ 350 100,000 0.24% 5.35% ARÇELİK XS0910932788 USD 5.00 4/3/2023 101.000 101.500 4.78 4.67 NA/BB+ 500 200,000 0.45% 7.73% BANK ASYA XS0907295942 USD 7.50 3/28/2023 41.000 51.000 Requesting Requesting D WR/NA 250 200,000 0.00% 310.00% BANKPOZİTİF XS0887586922 USD 5.00 2/7/2018 99.964 100.714 5.18-0.46 NA/BBB- 150 200,000 0.08% 3.06% COCA-COLA XS0975576165 USD 4.75 10/1/2018 101.308 101.808 Requesting 2.39 Baa3/BBB 500 200,000-0.07% N/A COCA-COLA XS1577950402 USD 4.22 9/19/2024 101.800 102.200 3.90 3.83 Baa3/BBB 500 200,000 1.44% N/A EXPORT CREDIT BANK XS0774764152 USD 5.88 4/24/2019 102.850 103.200 3.68 3.42 Ba1/NA 750 200,000 0.24% 1.28% EXPORT CREDIT BANK XS1345632811 USD 5.38 2/8/2021 102.400 102.850 4.54 4.39 Ba1/BB+ 500 200,000 0.64% 5.51% EXPORT CREDIT BANK XS1028943089 USD 5.00 9/23/2021 101.400 101.900 4.59 4.44 Ba1/BB+ 500 200,000 1.15% 6.85% EXPORT CREDIT BANK XS1684378208 USD 4.25 9/18/2022 97.300 97.900 4.89 4.75 Ba1/BB+ 500 200,000 1.46% N/A EXPORT CREDIT BANK XS1496463297 USD 5.38 10/24/2023 100.650 101.250 5.24 5.12 Ba1/BB+ 500 200,000 0.85% 9.40% FİBABANKA XS1386178237 USD 7.75 11/24/2027 102.050 102.950 7.27 7.07 NA/B+ 300 200,000 0.99% N/A FİNANSBANK XS1063442484 USD 6.25 4/30/2019 103.000 103.350 3.96 Requesting D Ba1/BBB- 500 200,000 0.24% 0.00% FİNANSBANK XS1613091500 USD 4.88 5/19/2022 98.250 98.650 5.32 5.22 Ba1/BBB- 750 200,000 0.36% N/A GARANTİ XS1084838496 EUR 3.38 7/8/2019 103.650 103.990 Requesting 0.77 Ba1/BBB- 500 100,000 0.24% 3.08% GARANTİ XS1057541838 USD 4.75 10/17/2019 101.650 102.000 3.80 3.61 Ba1/BBB- 750 200,000 0.44% 2.83% GARANTİ USM8931TAA71 USD 6.25 4/20/2021 105.850 106.350 4.34 4.19 Ba1/BBB- 500 200,000 1.00% 5.17% GARANTİ USM8931TAF68 USD 5.25 9/13/2022 102.100 102.600 4.75 4.63 Ba1/BBB- 750 200,000 1.44% 7.14% GARANTİ XS1576037284 USD 5.88 3/16/2023 103.900 104.400 5.02 4.91 Ba1/BBB- 500 200,000 1.46% N/A GARANTİ XS1617531063 USD 6.13 5/24/2027 99.800 100.250 6.18 Requesting D Ba3/BB+ 750 200,000 1.01% N/A GLOBAL LİMAN XS1132825099 USD 8.13 11/14/2021 101.827 103.077 Requesting Requesting D B1/BB- 250 200,000-0.39% 3.25% HALK BANKASI XS1069383856 USD 4.75 6/4/2019 98.400 98.850 5.91 5.58 Ba2/BB+ 500 200,000-0.51% 0.15% HALK BANKASI XS0882347072 USD 3.88 2/5/2020 95.600 96.100 #N/A Requesting #N/A Requesting Data... Data...Ba2/BB+ 750 200,000-0.47% 2.74% HALK BANKASI XS1188073081 USD 4.75 2/11/2021 95.650 96.150 6.29 6.11 Ba2/BB+ 500 200,000-0.88% 3.13% HALK BANKASI XS1439838548 USD 5.00 7/13/2021 95.650 96.150 6.38 6.22 Ba2/BB+ 500 200,000-1.03% 3.13% İŞ BANKASI XS0808632250 USD 3.75 10/10/2018 100.200 100.450 #N/A Requesting Data... 3.18 Ba1/BB+ 750 200,000 0.20% 2.19% İŞ BANKASI XS0982644774 USD 5.50 4/21/2019 101.900 102.400 4.02 3.64 Ba1/BB+ 500 200,000 0.34% 1.65% İŞ BANKASI XS1121459074 USD 5.00 4/30/2020 101.200 101.600 4.46 #N/A Requesting Data...Ba1/BB+ 750 200,000 0.85% 4.71% İŞ BANKASI XS1079527211 USD 5.00 6/25/2021 100.150 100.650 4.95 4.80 Ba1/BB+ 750 200,000 1.32% 6.20% İŞ BANKASI XS1390320981 USD 5.38 10/6/2021 100.850 101.350 5.12 #N/A Requesting Data...Ba1/BB+ 750 200,000 1.10% 6.95% İŞ BANKASI XS1508390090 USD 5.50 4/21/2022 101.100 101.500 5.21 5.11 Ba1/BB+ 600 200,000 1.46% 8.36% İŞ BANKASI XS0847042024 USD 6.00 10/24/2022 100.400 100.900 #N/A Requesting #N/A Requesting Data... Data...Ba3/BB 1,000 200,000 1.88% 7.21% İŞ BANKASI XS1003016018 USD 7.85 12/10/2023 106.100 106.700 #N/A Requesting #N/A Requesting Data... Data... B1/BB 400 200,000 1.39% 5.05% İŞ BANKASI XS1578203462 USD 6.13 4/25/2024 100.900 101.300 #N/A Requesting #N/A Requesting Data... Data...Ba1/BB+ 1,250 200,000 1.46% N/A İŞ BANKASI XS1623796072 USD 7.00 6/29/2028 100.300 100.800 #N/A Requesting Data... 6.82 B1/BB 500 200,000 2.45% N/A KOÇ HOLDİNG XS0922615819 USD 3.50 4/24/2020 100.100 100.500 #N/A Requesting Data... 3.28 Baa3/NA 750 200,000-0.30% 2.14% KOÇ HOLDİNG XS1379145656 USD 5.25 3/15/2023 104.900 105.300 4.15 4.06 Baa3/NA 750 200,000 0.48% 6.71% KUVEYT TÜRK XS1079236169 USD 5.16 6/26/2019 102.000 102.600 3.79 3.39 NA/BBB- 500 200,000-0.34% 0.49%

3 KUVEYT TÜRK XS1323608635 USD 7.90 2/17/2026 101.750 102.700 7.26 6.93 NA/BB+ 350 200,000-0.97% -1.45% MERSİN LİMAN XS0957598070 USD 5.88 8/12/2020 103.290 103.790 Requesting 2.19 Baa3/BBB- 450 200,000-0.31% -0.44% ODEABANK XS1655085485 USD 7.63 8/1/2027 92.300 93.500 9.09 8.89 B2/B+ 300 200,000 0.87% N/A ŞİŞECAM XS0927634807 USD 4.25 5/9/2020 101.400 101.900 3.63 3.41 Ba1/NA 500 200,000 0.05% N/A TSKB XS1117601796 USD 5.38 10/30/2019 101.350 101.800 Requesting 4.35 Ba1/BB+ 350 200,000 0.15% 2.74% TSKB XS1219733752 USD 5.13 4/22/2020 100.850 101.350 4.73 Requesting D Ba1/BB+ 350 200,000 0.45% 4.24% TSKB XS1412393172 USD 4.88 5/18/2021 99.400 100.050 5.07 4.86 Ba1/BB+ 300 200,000 0.76% 7.29% TSKB XS1584113184 USD 7.63 3/29/2027 101.550 102.200 7.19 7.02 B1/BB- 300 200,000 1.30% N/A TÜPRAŞ XS0849020556 USD 4.13 5/2/2018 100.400 100.760 Requesting Requesting D Ba1/BBB- 700 200,000 0.00% 0.55% TURKCELL XS1298711729 USD 5.75 10/15/2025 107.339 108.091 4.62 4.51 Baa3/BBB- 500 200,000 1.03% 11.08% TÜRK TELEKOM XS1028952155 USD 3.75 6/19/2019 100.600 101.100 3.34 2.99 NA/BBB- 500 200,000 0.20% 1.98% TÜRK TELEKOM XS1028951264 USD 4.88 6/19/2024 102.050 102.600 4.51 4.41 NA/BBB- 500 200,000 1.19% 10.03% TÜRKİYE FİNANS XS1057852912 USD 5.38 4/24/2019 102.100 102.700 3.75 3.30 NA/BBB- 500 200,000 0.34% -0.05% VAKIFLAR BANKASI XS0916347759 USD 3.75 4/15/2018 99.924 100.424 3.96 2.40 Ba1/BB+ 600 200,000 0.06% 1.70% VAKIFLAR BANKASI XS0987355939 USD 5.00 10/31/2018 100.900 101.200 Requesting 3.57 Ba1/BB+ 500 200,000 0.10% 0.65% VAKIFLAR BANKASI XS1077629225 EUR 3.50 6/17/2019 102.400 102.800 1.85 1.58 Ba1/BB+ 500 100,000 0.34% 2.66% VAKIFLAR BANKASI XS1403416222 EUR 2.38 5/4/2021 101.050 101.550 2.05 1.89 Baa1/NA 500 100,000 0.65% 4.82% VAKIFLAR BANKASI XS1508914691 USD 5.50 10/27/2021 99.850 100.350 5.54 Requesting D Ba1/BB+ 500 200,000 0.10% 6.73% VAKIFLAR BANKASI XS1622626379 USD 5.63 5/30/2022 99.550 99.980 Requesting 5.63 Ba1/BB+ 500 200,000 0.50% N/A VAKIFLAR BANKASI XS0849728190 USD 6.00 11/1/2022 98.100 98.600 6.46 6.34 Ba3/BB 672 200,000 0.82% 6.86% VAKIFLAR BANKASI XS1175854923 USD 6.88 2/3/2025 100.050 100.950 6.84 6.38 B1/BB 500 200,000 0.30% 5.26% VAKIFLAR BANKASI XS1551747733 USD 8.00 11/1/2027 101.550 102.400 7.61 7.40 B1/BB 228 200,000-0.20% N/A YAPI KREDİ XS0994815016 USD 5.25 12/3/2018 101.520 101.850 3.61 3.26 Ba1/BBB- 500 200,000 0.22% 1.42% YAPI KREDİ XS1028938915 USD 5.13 10/22/2019 101.500 101.900 4.26 4.04 Ba1/BBB- 550 200,000 0.15% 3.26% YAPI KREDİ XS0874840688 USD 4.00 1/22/2020 99.050 99.400 4.48 4.30 Ba1/BBB- 500 200,000 0.56% 4.54% YAPI KREDİ XS0861979440 USD 5.50 12/6/2022 98.600 99.100 5.83 Requesting D Ba2/BB+ 1,000 200,000 1.60% 8.29% YAPI KREDİ XS1571399754 USD 5.75 2/24/2022 101.800 102.250 5.26 Requesting D Ba1/BBB- 600 200,000 1.44% N/A YAPI KREDİ XS1634372954 USD 5.85 6/21/2024 100.000 100.450 5.85 5.77 Ba1/BBB- 500 200,000 1.99% N/A YAPI KREDİ XS1376681067 USD 8.50 3/9/2026 107.050 107.750 6.05 5.82 Ba3/BB+ 500 200,000 0.99% 5.21% YAŞAR HOLDİNG XS1132450427 USD 8.88 5/6/2020 102.037 103.287 7.68 6.97 B2 /*-/B 250 200,000-0.77% -0.76% ZİRAAT BANKASI XS1083936028 USD 4.25 7/3/2019 100.000 100.350 4.25 Requesting D Ba1/BB+ 750 200,000 0.35% 1.99% ZİRAAT BANKASI XS1223394914 USD 4.75 4/29/2021 99.150 99.580 5.03 4.89 Ba1/BB+ 500 200,000 0.46% 4.20% ZİRAAT BANKASI XS1605397394 USD 5.13 5/3/2022 99.300 99.800 Requesting 5.18 Ba1/BB+ 600 200,000 0.56% N/A ZİRAAT BANKASI XS1691349010 USD 5.13 9/29/2023 97.250 97.700 Requesting 5.59 Ba1/NR 500 200,000 0.46% N/A TÜPRAŞ XS1686704948 USD 4.50 10/18/2024 98.800 99.150 4.71 4.65 Ba1/BBB- 700 200,000 1.18% N/A Brezilya US105756BT66 BRL 8.50 1/5/2024 101.250 101.750 8.40 8.29 Ba2/BB 3,150 350,000-0.98% 12.78% US105756AR10 USD 8.88 4/15/2024 126.750 128.000 Requesting Requesting D Ba2/BB 1,029 1,000-0.74% 4.11% US105756BV13 USD 4.25 1/7/2025 101.750 102.150 3.96 3.90 Ba2/BB 4,300 200,000 0.54% 10.30% US105756AE07 USD 10.13 5/15/2027 142.800 143.800 4.49 4.39 Ba2/BB 838 1,000-0.14% 4.81% US105756BB58 USD 8.25 1/20/2034 131.550 132.550 5.31 5.23 Ba2/BB 1,502 1,000 1.39% 15.90% BANCO DO BRASIL USP3772WAF97 USD 9.00 PERP 107.500 108.250 7.52 7.38 B2/NA 2,170 200,000 0.70% 14.36% BRASKEM USG1315RAD38 USD 5.75 4/15/2021 106.100 106.850 Requesting 3.54 Ba1/BBB- 1,000 200,000-0.84% 1.29% BRASKEM USG1315RAG68 USD 5.38 5/2/2022 105.850 106.600 3.90 3.72 Ba1/BBB- 500 200,000-1.07% 3.27% BRASKEM US10553YAF25 USD 6.45 2/3/2024 111.750 112.500 Requesting 4.12 Ba1/BBB- 750 200,000-0.67% 6.56% BRF USP1905CAE05 USD 4.75 5/22/2024 101.500 102.250 4.48 Requesting D Ba1/BBB- 750 200,000-0.49% 4.37% CSN ISLANDS XI USG2583XAA93 USD 6.88 9/21/2019 94.250 95.750 Requesting 9.55 Caa2/B- /*- 750 100,000 7.10% 17.81% FIBRIA US31572UAE64 USD 5.25 5/12/2024 106.850 107.600 4.02 3.90 Ba1/BBB- 600 2,000 0.33% 9.03% ITAU UNIBANCO US46556MAF95 USD 5.65 3/19/2022 104.500 105.250 4.47 4.28 Ba3/BB- 1,250 200,000 0.00% 3.47% JBS USA29866AA70 USD 7.75 10/28/2020 101.400 102.400 6.93 6.35 NA/BB- /*- 1,000 200,000-0.83% -4.23% MARFRIG USN54468AA65 USD 8.38 5/9/2018 101.650 102.400 4.00 2.09 B2/BB- 216 200,000-3.65% -2.96% MARFRIG USN54468AD05 USD 6.88 6/24/2019 102.600 103.200 5.02 3.85 B2/BB- 660 200,000-0.87% 0.59% MINERVA USL6401PAC79 USD 7.75 1/31/2023 103.800 104.550 6.37 1.56 B1/BB- 250 200,000 0.29% -0.67% PETROBRAS US71645WAN11 USD 7.88 3/15/2019 105.400 106.100 3.37 Requesting D Ba3/BB 558 2,000-0.75% -1.50% PETROBRAS US71645WAR25 USD 5.38 1/27/2021 103.850 104.250 4.04 3.91 Ba3/BB 2,713 2,000-0.62% 7.90% PETROBRAS US71647NAP42 USD 8.38 5/23/2021 113.950 114.450 3.98 3.83 Ba3/BB 2,845 2,000-0.50% 7.65% PETROBRAS US71647NAF69 USD 4.38 5/20/2023 98.800 99.300 4.63 Requesting D Ba3/BB 3,500 2,000-0.20% 13.56% PETROBRAS US71647NAM11 USD 6.25 3/17/2024 105.850 106.350 5.14 5.05 Ba3/BB 2,500 2,000-0.84% 11.72% PETROBRAS XS0716979595 EUR 5.88 3/7/2022 116.000 116.500 1.88 1.77 Ba3/BB 600 100,000 0.04% 9.54% PETROBRAS XS0982711714 EUR 4.75 1/14/2025 110.700 111.200 3.04 Requesting D Ba3/BB 800 100,000 0.73% 13.66% PETROBRAS US71647NAN93 USD 6.85 6/5/2115 96.150 97.000 7.12 7.06 Ba3/BB 2,500 2,000 1.21% 20.94% SUZANO USG8600UAA19 USD 5.88 1/23/2021 107.850 108.850 3.19 2.86 Ba1/BB+ 186 100,000-0.37% 3.70% VOTORANTIM USP98088AA83 USD 7.25 4/5/2041 108.200 108.950 6.56 6.50 Ba2/BBB- 1,151 200,000 0.46% 17.61% VOTORANTIM USP98088AA83 USD 7.25 4/5/2041 108.200 108.950 6.56 6.50 Ba2/BBB- 1,151 200,000 0.46% 17.61% VALE US91911TAM53 USD 4.38 1/11/2022 103.550 104.050 #N/A Requesting Data... 3.30 Ba1/BBB+ 2,250 2,000 0.19% 4.44% Rusya XS0504954347 USD 5.00 4/29/2020 105.159 105.409 2.73 #N/A Requesting Data...Ba1/BBB- 3,500 100,000-0.34% -0.28% XS0971721450 USD 4.88 9/16/2023 108.310 108.510 #N/A Requesting Data... 3.24 Ba1/BBB- 3,000 200,000-0.39% 3.35% XS0088543193 USD 12.75 6/24/2028 173.920 174.220 #N/A Requesting #N/A Requesting Data... Data...Ba1/BBB- 2,500 10,000 0.14% 2.91% XS0971721963 USD 5.88 9/16/2043 115.950 116.450 #N/A Requesting #N/A Requesting Data... Data...Ba1/BBB- 1,500 200,000 1.49% 5.41% ALFA BANK XS0620695204 USD 7.75 4/28/2021 112.298 112.898 #N/A Requesting Data... 3.63 Ba1/BB+ 1,000 200,000-0.47% -0.40% GAZPROM XS0424860947 USD 9.25 4/23/2019 107.950 108.450 #N/A Requesting Data... 2.78 Ba1/BBB- 2,250 100,000-0.53% -4.57% GAZPROM XS0906946008 EUR 3.39 3/20/2020 105.382 106.007 0.95 0.68 Ba1/BBB- 1,000 100,000-0.03% 1.13% GAZPROM XS0290580595 USD 6.51 3/7/2022 110.700 111.200 3.74 #N/A Requesting Data...Ba1/BBB- 1,300 100,000 0.16% 1.10% GAZPROMBANK XS0987109658 EUR 3.98 10/30/2018 102.277 102.777 #N/A Requesting Data... 0.73 Ba2/BB+ 1,000 100,000-0.30% -1.04% GAZPROMBANK XS0779213460 USD 7.25 5/3/2019 104.300 104.500 3.99 3.84 B2/BB 500 200,000-0.19% -2.18% GAZPROMBANK XS0975320879 USD 7.50 12/28/2023 102.800 103.800 4.66 3.67 NR/BB 750 200,000-1.15% N/A LUKOIL XS0919502434 USD 3.42 4/24/2018 100.150 100.450 2.96 2.09 Ba1/BBB+ 1,500 200,000-0.20% -0.53%

4 LUKOIL XS0461926569 USD 7.25 11/5/2019 107.700 108.145 2.99 2.76 Ba1/BBB+ 600 100,000-0.54% -2.53% LUKOIL XS0554659671 USD 6.13 11/9/2020 108.000 108.500 Requesting 3.03 Ba1/BBB+ 1,000 200,000-0.52% -0.11% LUKOIL XS0304274599 USD 6.66 6/7/2022 113.000 113.500 Requesting 3.37 Ba1/BBB+ 500 100,000 0.26% 1.45% LUKOIL XS0919504562 USD 4.56 4/24/2023 104.050 104.550 3.72 3.62 Ba1/BBB+ 1,500 200,000 0.29% 3.14% NORILSK XS1298447019 USD 6.63 10/14/2022 112.880 113.380 3.68 Requesting D Ba1/BBB- 1,000 200,000 0.34% 1.47% PROMSVYAZ BANK XS1086084123 USD 10.50 7/30/2021 10.000 60.000 132.74 Requesting D Caa3 /*-/WD 321 200,000-87.89% -90.99% ROSNEFT XS0861981180 USD 4.20 3/6/2022 100.850 101.450 3.98 Requesting D Ba1/WD 2,000 200,000-0.05% 2.39% RUSSIAN AGRI BANK XS0979891925 USD 8.50 10/16/2023 112.479 113.229 5.93 5.79 NR/NA 500 200,000-0.15% 5.37% RUSSIAN STD BANK XS1117280625 USD 13.00 10/27/2022 22.000 27.000 64.17 55.21 NA/NA 545 164,000-18.52% -53.93% SBERBANK XS0897427570 TRY 7.40 3/4/2018 98.019 98.423 17.00 14.98 Ba1/BBB- 550 300,000 0.56% N/A SBERBANK XS0799357354 USD 5.18 6/28/2019 102.944 103.444 3.18 Requesting D Ba1/BBB- 1,000 200,000-0.61% -1.37% SBERBANK XS0638572973 USD 5.72 6/16/2021 107.750 108.250 3.34 3.20 Ba1/BBB- 1,000 200,000-0.54% 1.41% SBERBANK XS0848530977 USD 5.13 10/29/2022 103.410 103.910 4.34 4.23 Ba2/BB+ 2,000 200,000-0.75% 2.39% SBERBANK XS0935311240 USD 5.25 5/23/2023 103.956 104.456 4.42 Requesting D NA/BB+ 1,000 200,000-0.43% 6.35% SBERBANK XS1032750165 USD 5.50 2/26/2024 101.309 101.809 4.35 Requesting D NA/BB+ 1,000 200,000-0.81% 1.18% VIP XS0643183220 USD 7.50 3/1/2022 113.875 114.375 3.89 3.77 Ba2/BB+ 601 200,000-1.41% 1.90% VNESHECONOMBANK XS0893205186 EUR 3.04 2/21/2018 100.239 100.739 1.61 Requesting D NA/BBB- 1,000 100,000-0.27% -1.12% VNESHECONOMBANK XS0993162170 USD 4.22 11/21/2018 100.711 101.211 3.43 2.88 NA/BBB- 850 200,000-0.32% -0.41% VTB BANK XS0842078536 USD 6.95 10/17/2022 108.295 108.995 4.99 4.84 Ba3/WD 1,412 200,000-0.42% 1.45% Venezuella US922646AT10 USD 13.63 8/15/2018 44.000 47.000 199.96 Requesting D Caa3/WD 753 1,000 2.33% -45.00% US922646AS37 USD 9.25 9/15/2027 24.100 25.100 41.58 Requesting D Caa3/WD 4,000 1,000-8.88% -53.20% US922646BL74 USD 9.38 1/13/2034 22.600 23.600 Requesting Requesting D Caa3/WD 1,500 2,000-1.74% -51.91% USP17625AB33 USD 9.25 5/7/2028 22.500 23.500 Requesting 41.90 Caa3/WD 2,000 100-6.25% -51.92% USP17625AC16 USD 12.75 8/23/2022 23.900 24.900 67.78 Requesting D Caa3/WD 3,000 100-11.48% -61.23% USP17625AD98 USD 11.95 8/5/2031 22.300 23.300 53.55 Requesting D Caa3/WD 4,200 100-9.90% -59.82% USP17625AE71 USD 11.75 10/21/2026 24.400 25.400 Requesting Requesting D Caa3/WD 3,000 100-7.92% -56.43% USP97475AN08 USD 7.75 10/13/2019 23.750 24.950 Requesting 113.21 Caa3/WD 2,496 100-16.67% -57.21% PDVSA USP7807HAM71 USD 12.75 2/17/2022 28.000 29.000 63.41 Requesting D NA/C 3,000 100-19.42% -53.76% PDVSA XS0294364954 USD 5.38 4/12/2027 23.250 24.250 Requesting 29.72 NA/C 3,000 400-9.71% -37.67% Meksika US91087BAA89 USD 3.60 1/30/2025 101.800 102.200 3.31 3.25 A3/BBB+ 2,473 200,000 0.30% 5.93% US91086QBF46 USD 4.60 1/23/2046 98.800 99.550 4.68 Requesting D A3/BBB+ 3,000 200,000 0.92% 12.08% BBVA BANCOMER USP16259AB20 USD 6.50 3/10/2021 109.000 109.750 3.52 3.28 Baa3/BBB- 1,250 150,000-0.18% 2.83% BBVA BANCOMER USP16259AK29 USD 4.38 4/10/2024 104.300 105.050 3.61 3.48 A3/A- 750 150,000 0.05% 5.35% CFELEC USP30179AM09 USD 4.88 1/15/2024 106.750 107.600 Requesting 3.47 Baa1/BBB+ 1,250 200,000-0.14% 7.29% CEMEX USP2253TJD20 USD 6.50 12/10/2019 103.000 104.000 NA NA NA/WD - 200,000-0.72% -2.60% CEMEX USP2253TJE03 USD 5.70 1/11/2025 105.250 106.000 4.34 3.98 NA/BB- 1,071 200,000 1.20% 5.78% CEMEX USP22575AF47 USD 7.25 1/15/2021 103.750 104.600 5.26-5.29 NA/BB- 342 200,000-1.66% -1.66% CEMEX USU12763AD75 USD 6.00 4/1/2024 105.300 106.050 4.01 Requesting D NA/BB- 1,000 200,000 0.29% 4.26% PEMEX XS1379158048 EUR 5.13 3/15/2023 116.400 116.800 1.81 1.74 Baa3/BBB+ 900 100,000 0.36% 10.80% PEMEX US71654QBG64 USD 3.50 1/30/2023 97.800 98.300 Requesting Requesting D Baa3/BBB+ 2,100 10,000-0.05% 8.79% PEMEX US71656MAF68 USD 6.63 PERP 101.000 102.200-6.53-21.13 Baa3/BBB+ 1,000 10,000 0.50% 9.01% Arjantin US040114GL81 USD 8.28 12/31/2033 117.100 118.100 6.12 Requesting D B2/WD 3,966 1 0.73% 16.81% US040114GK09 USD 2.50 12/31/2038 72.650 73.250 Requesting 6.41 B2/WD 5,297 1 1.47% 27.46% YPF SOCIEDAD USP989MJBE04 USD 8.50 7/28/2025 116.000 116.750 5.86 5.75 B2/B 1,500 1,000 1.31% 15.42% Güney Afrika US836205AN45 USD 5.50 3/9/2020 104.918 105.293 3.18 Requesting D Baa3 /*-/BB+ 1,619 100,000-0.69% -0.90% US836205AQ75 USD 4.67 1/17/2024 101.899 102.399 4.31 Requesting D Baa3 /*-/BB+ 1,500 100,000 0.07% 2.05% US836205AR58 USD 5.88 9/16/2025 108.499 108.999 Requesting Requesting D Baa3 /*-/BB+ 2,000 200,000 0.64% 1.76% US836205AS32 USD 5.38 7/24/2044 97.774 98.399 Requesting Requesting D Baa3 /*-/BB+ 1,000 200,000 3.17% 0.15% ANGLOGOLD US03512TAC53 USD 5.13 8/1/2022 104.875 105.505 3.96 3.81 Baa3/NA 750 1,000 0.04% 6.33% ESKOM XS0579851949 USD 5.75 1/26/2021 99.355 100.105 5.98 5.71 B1 /*-/NA 1,750 200,000-0.74% -0.15% ESKOM XS1187065443 USD 7.13 2/11/2025 101.926 102.926Requesting 6.60 B1 /*-/NA 1,250 200,000 1.06% 2.05% TRANSNET XS0809571739 USD 4.00 7/26/2022 97.499 98.149 4.61 4.45 Baa3 /*-/BB+u 1,000 200,000 0.41% 2.36% ZAR SOV CAPITAL FUND XS1113141441 USD 3.90 6/24/2020 101.159 101.784 Requesting Requesting D Baa3 /*-/BB+ 500 200,000-0.26% 0.16% Azerbaycan XS1044540547 USD 4.75 3/18/2024 102.900 103.275 4.22 4.15 Ba2/BB+ 1,250 200,000 0.59% 4.48% SOCAR XS0903465127 USD 4.75 3/13/2023 100.768 101.168 4.58 4.50 Ba2/BB+ /*- 1,000 200,000 0.96% 4.69% SOCAR XS1196496688 USD 6.95 3/18/2030 110.457 111.257 Requesting Requesting D NR/BB+ /*- 750 200,000 1.44% 6.60%

5 Gürcistan GEORGIAN RAILWAY XS0800346362 USD 7.75 7/11/2022 111.880 112.880 4.82 4.59 NA/B+ 500 200,000 0.34% 5.30% Kazakistan XS1120709669 USD 3.88 10/14/2024 104.618 104.968 Requesting Requesting D Baa3/BBB 1,500 200,000 1.41% 4.62% XS1263054519 USD 5.13 7/21/2025 112.761 113.111 Requesting Requesting D Baa3/BBB 2,500 200,000 1.39% 6.26% XS1120709826 USD 4.88 10/14/2044 107.842 108.592 4.37 Requesting D Baa3/BBB 1,000 200,000 2.53% 14.42% XS1263139856 USD 6.50 7/21/2045 129.203 129.953 Requesting Requesting D Baa3/BBB 1,500 200,000 2.45% 13.83% KAZAGRO XS0934609016 USD 4.63 5/24/2023 101.710 102.260 Requesting Requesting D NA/BBB- 961 200,000 0.55% 9.37% KAZKOMMERTSBANK XS0867478124 USD 5.50 12/21/2022 99.750 99.750 Requesting Requesting D NA/BB- 750 1 0.76% 29.13% Yunanistan GR0114030555 EUR 3.50 1/30/2023 NA NA Invalid Ove A Invalid Ove NA/B- 4,356 1 N/A N/A GR0124034688 EUR 3.75 1/30/2028 NA NA Invalid Ove A Invalid Ove NA/B- 5,963 1 N/A N/A GR0128015725 EUR 3.90 1/30/2033 NA NA Invalid Ove A Invalid Ove NA/B- 6,091 1 N/A N/A GR0133011248 EUR 4.00 1/30/2037 NA NA Invalid Ove A Invalid Ove NA/B- 4,805 1 N/A N/A GR0138015814 EUR 4.20 1/30/2042 NA NA Invalid Ove A Invalid Ove NA/B- 4,604 1 N/A N/A GRR000000010 EUR 0.00 10/15/2042 0.531 0.611 NA Requesting D NA/NA 62,383 100 40.11% 261.22% Çin BANK OF CHINA US06120TAA60 USD 5.00 11/13/2024 106.888 107.212 3.85 3.80 Baa3/BBB+ 3,000 200,000-0.41% 3.74% CENTRAL CHINA XS0937236783 USD 6.50 6/4/2018 100.500 100.850 5.37 4.59 B1/NA 400 200,000 0.00% -0.74% CHINA SHANSHUI XS1200439609 USD 7.50 3/10/2020 80.000 84.000 18.91 16.35 NA/WD 427 200,000 2.56% -1.23% CNPC HK USG21895AC44 USD 5.95 4/28/2041 129.557 130.843 3.99 3.92 A2/A+ 500 200,000 1.03% 10.08% HUARONG FINANCE XS1165659357 USD 4.50 1/16/2020 102.289 102.478 3.35 3.25 Baa1/A 1,200 200,000-0.33% -0.01% IND & COMM BANK USY39656AA40 USD 6.00 PERP 103.820 103.920 3.91 Requesting D Ba2/NA 2,940 200,000 0.41% -0.56% PARKSON RETAIL XS0920864708 USD 4.50 5/3/2018 98.750 99.250 7.94 Requesting D B3/CCC 485 200,000 0.00% 1.86% Hindistan JSW STEEL LTD XS1133588233 USD 4.75 11/12/2019 101.375 101.875 3.99 Requesting D Ba3/BB 500 200,000-0.49% 2.79% RELIANCE HOLDINGS US759468AC51 USD 5.40 2/14/2022 108.655 108.905 Requesting 3.10 Baa2/NA 1,500 250,000-0.68% 1.34% Endonezya PERTAMINA USY7138AAA89 USD 5.25 5/23/2021 107.250 107.625 3.01 2.89 Baa3/BBB- 1,000 200,000-0.12% 2.51% Peru UNACEM USP9451YAC77 USD 5.88 10/30/2021 104.000 105.000 4.37 3.32 Ba2/NA 625 150,000 0.73% 1.96% Birleşik Arap Emirlikleri (Sukuk) JAFZ SUKUK 2019 XS0794821453 USD 7.00 6/19/2019 106.232 106.857 2.72 2.31 Baa2/BBB+ 650 200,000-0.56% -2.76% DIP SUKUK LTD XS1035007530 USD 4.29 2/20/2019 101.000 101.250 3.41 3.19 NA/NA 300 200,000-0.25% -0.25% EMAAR SUKUK LTD XS0805885349 USD 6.40 7/18/2019 105.650 106.275 2.72 2.32 Baa3/NA 500 200,000-0.61% -2.85% DIB SUKUK LTD XS1241110300 USD 2.92 6/3/2020 99.500 100.000 3.13 2.92 A3/A 750 200,000 0.06% 0.76% EMG SUKUK XS1075401726 USD 4.56 6/18/2024 103.750 104.250 3.90 3.82 Baa2/NA 750 200,000 0.00% 2.22% ABU DHABI NATIONAL XS0863524277 USD 3.63 1/12/2023 101.375 101.875 3.33 Requesting D A3/NA 1,250 200,000 0.25% 3.18% EMIRATES XS0885065887 USD 4.50 2/6/2025 101.130 102.130 Requesting 4.15 NA/NA 536 200,000-0.48% -0.25%