ULUSLARARASI SERMAYE PİYASALARI - GÜNLÜK RAPOR

1 ULUSLARARASI SERMAYE PİYASALARI - GÜNLÜK RAPOR 11.05.2017 Eurotahvil Piyasaları ABD de tarafında yaşanan politik olayların tahvil piyasaları üzerindeki etkileri sınırlı olurken, 2 yıl vadeli tahvil getirisi sabit olarak %1.3550 den işlem gördü. 10 yıl vadede getiri oranı yarım baz puan artışla %2.41 seviyelerinden günü tamamladı. Avrupa tahvillerinde alışlar göz çarptı. 10 yıl vadeli Almanya tahvili 2 baz puan artarak %0.43, benzer vadedeki Fransa tahvili de %0.77 getiri seviyesinden fiyatlandı. İtalya, İspanya ve İtalya 10 yıllık tahvillerinde yaklaşık 2-3 baz puan arasında düşüş gerçekleşti. Öte yandan, gelişmekte olan ülke tahvillerinde 4-5 baz puan arasında değer kazançları gözlemlendi. Türkiye ülke eurotahvillerinde azda olsa satıcılı bir seyir hâkimdi. 2045 vadeli eurotahvil $0.05 değer kazanarak $110.220 seviyesine yükselirken, diğer uzun vadeli tahvillerde sınırlı kayıpları göze çarptı. 2023 vadeli İş Bankası $107.450, 2022 vadeli Yapı Kredi sub kağıt ise $98.200 fiyattan günü tamamladı. Türkiye 5 yıllık CDS i 205 baz puandan fiyatlandı. ABD & Avrupa Hisse Senedi Piyasaları Tarihi rekor seviyelerde işlem gören ABD endeksleri günü yataya yakın kaparken, FBI Başkanı J. Comey in dün Trump tarafından görevden alınması hisse senedi piyasası üzerinde bir etki yaratmadı. Dow Jones endeksi günü 20943 den tamamlarken, S&P 500 yataya yakın 2399 dan, Nasdaq ise 6129 dan günü tamamladılar. Dow Jones da en iyi performans gösteren hisse senetleri Chevron (+%1.48), Caterpillar (+%1.05) ve Merck (+%0.81) olurken, en çok değer kazanan alt endeks finansallar oldu. ABD tarafında bugün açıklanan önemli bir makro veri akışı olmadığını belirtelim. Avrupa hisse senetleri piyasaları petrol şirketlerinin önderliğinde günü artıda tamamladılar. Almanya DAX endeksi %0.07 artışla günü 12757 seviyesinden günü noktalarken, Lufthansa (+%3.12), Infineon Tech (+%1.74) ve Continental (+%1.68) günün en çok değer kazanan şirketleri oldular. DAX ı oluşturan 10 alt endeksin 8 i günü artıda kapatmayı başardı. İngiltere FTSE 100 endeksi %0.59 artışla 7385 den günü sonlandırırken, endeks ağırlığı en yüksek olan HSBC günü %0.90 artarak 670.90 dan tamamladı. Fransa CAC 40 yataya yakın 5400 den işlem gününü sonlandırdı. Avrupa tarafında açıklanan veri akışına göz attığımızda Fransa ve İtalya da Mart ayı sanayi verisi rakamlarının beklentilerin üzerinde geldiğini gözlemledik. Yarın Avrupa tarafında piyasada etki yaratacak bir makro veri akışı beklenmezken, ABD de Nisan ayı tüketici fiyat endeksi ve haftalık işsizlik maaşı başvurusu dataları takip edilecek. Emtia & FX Vadeli Kontratları (Futures) Dolar endeksi güne negatif bölgede başlangıç yaptı. Gün boyu yükseliş izlediğimiz endeks düne yakın seviyelerde kapanış yaptı. Asya seansındaki yükselişle 1,0898 seviyesini gören EUR/USD paritesi günün geri kalanında değer kaybederek 1,0865 seviyelerinden günü sonlandırdı. 1,0830 ilk destek seviyesi olarak takip edilebilir. Bu seviyenin kırılması halinde Fransa seçimleriyle kazandığı primi geri verme ihtimali söz konusu olacak. Japon yeninde değer kaybı sürüyor. 114,37 ye kadar yükselen USD/JPY paritesi son iki ayın yüksek seviyelerinde bulunuyor. Kapanış, 114,25 civarında oldu. Kuzey Kore nin nükleer test yaptığı haberiyle düşüşe ara veren değerli metallerde primli seyir izlendi. Altın, gün boyu test ettiği $1225 seviyesini geçemedi. Günün kapanışı çok az primle $1219 civarında oldu. Gümüş ise %1 e yakın değer kazancıyla $16,21 seviyesinden kapanış gerçekleşti. Haftalık petrol stoklarında 5,25 milyon varil azalma açıklanmasıyla petrol fiyatlarında sert yükselişler izlendi. Son günlerde görülen değer kayıplarının önemli bir kısmı geri alınmış oldu. WTI petrol %3,2 primle $47,35 civarında kapanış yaparken Brent petrolde %3,1 yükselişle $50,25 seviyesinden kapanış gerçekleşti. Aylık WASDE raporunda buğday ve mısır için yeni sezon stok ve üretim miktarları geçen sezonun altında açıklanırken sırasıyla %0,5 ve %2 primle kapanış yaptılar. Soya ve pamukta ise tam tersi stok ve üretim beklentilerinde artış açıklandı. Soya %0,4 ve pamuk %1,2 değer kaybetti. Benchmark Tahviller Fiyat Getiri Türkiye 105.746 5.219 Brezilya 109.300 4.681 Rusya 105.420 4.012 Güney Afrika 101.380 4.635 ABD 99.781 2.400 Almanya 98.094 0.448 5 Yıllık CDS Dünkü Kapanış Değişim (bps) Türkiye 204-2 Brezilya 208-7 Rusya N/A N/A Güney Afrika N/A N/A Hisse Senedi Piyasaları Kapanış Değişim % Dow Jones 20,943.11-0.16 S&P 500 2,399.63 0.11 NASDAQ 6,129.14 0.14 Almanya 12,755.91-0.01 İngiltere 7,381.43-0.05 Fransa 5,400.44 0.00 Japonya 19,961.55 0.31 Şangay 3,061.50 0.29 Hong Kong 25,125.55 0.44 Brezilya 67,349.73 1.62 Rusya 1,112.32 0.06 Emtia Piyasaları Kapanış Değişim % Petrol 47.330 3.16 Altın 1,219.235-0.18 Gümüş 16.197 0.04 Bakır 5,500.50-0.21 Döviz Dünkü Seviye Değişim % EUR/USD 1.0868-0.06 USD/JPY 114.2800 0.26 USD/CAD 1.3656-0.47 GBP/USD 1.2938 0.03 AUD/USD 0.7367 0.30 NZD/USD 0.6940 0.65 USD/CNH 6.9079-0.03 USD/TRY 3.5742-1.02 USD/RUB 57.0580-1.63 USD/ZAR 13.3841-1.07 Futures Dünkü Seviye Değişim % Dow Jones Mini 20,893.00-0.07 S&P 500 Mini 2,395.25 0.08 DAX 12,765.00-0.06 EUR/USD 1.0882-0.07 TREASURY 10Y 124.81-0.01

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 US900123BE97 USD 7.50 14.07.2017 100.892 100.992 1.90 1.30 Ba1/BB+ 2,250 100,000-0.75% -5.00% US900123BA75 USD 6.75 03.04.2018 103.622 103.872 2.56 2.28 Ba1/BB+ 2,250 100,000-0.37% -3.34% US900123BD15 USD 7.00 11.03.2019 106.827 107.077 3.11 2.97 Ba1/BB+ 1,500 100,000-0.16% -3.54% US900123BF62 USD 7.50 07.11.2019 109.808 110.058 3.34 3.24 Ba1/BB+ 1,500 100,000 0.05% -3.47% US900123AX87 USD 7.00 05.06.2020 109.514 109.889 3.68 3.55 Ba1/BB+ 2,000 2,000 0.10% -2.78% US900123BH29 USD 5.63 30.03.2021 105.503 105.878 4.07 3.97 Ba1/BB+ 2,000 100,000 0.38% -1.63% US900123BY51 USD 5.13 25.03.2022 103.132 103.632 4.40 4.29 Ba1/BB+ 1,000 200,000 0.85% -1.78% US900123BZ27 USD 6.25 26.09.2022 108.127 108.627 4.52 4.42 Ba1/BB+ 2,500 200,000 0.63% -2.59% US900123CA66 USD 3.25 23.03.2023 93.147 93.647 4.60 4.50 Ba1/BB+ 1,500 200,000 0.97% -0.91% US900123CF53 USD 5.75 22.03.2024 105.319 105.819 4.83 4.74 Ba1/BB+ 2,500 200,000 0.78% -2.71% US900123AW05 USD 7.38 05.02.2025 115.250 115.750 4.97 4.90 Ba1/BB+ 3,250 2,000 0.88% -3.56% US900123CJ75 USD 4.25 14.04.2026 94.352 94.852 5.04 4.97 Ba1/BB+ 1,500 200,000 1.05% -2.98% US900123CK49 USD 4.88 09.10.2026 97.948 98.448 5.15 5.08 Ba1/BB+ 3,000 200,000 0.98% -3.50% US900123CL22 USD 6.00 25.03.2027 105.581 105.931 5.26 5.22 Ba1/BB+ 3,250 200,000 0.79% N/A US900123AL40 USD 11.88 15.01.2030 158.146 159.146 5.45 5.37 Ba1/BB+ 1,500 1,000 1.46% -6.56% US900123AT75 USD 8.00 14.02.2034 123.302 124.052 5.80 5.74 Ba1/BB+ 1,500 2,000 2.01% -4.60% US900123AY60 USD 6.88 17.03.2036 111.622 112.372 5.85 5.79 Ba1/BB+ 2,750 2,000 1.94% -4.39% US900123BB58 USD 7.25 05.03.2038 116.287 117.037 5.88 5.83 Ba1/BB+ 1,000 2,000 2.37% -4.68% US900123BG46 USD 6.75 30.05.2040 110.423 111.173 5.92 5.86 Ba1/BB+ 2,000 100,000 2.13% -4.81% US900123BJ84 USD 6.00 14.01.2041 101.583 102.083 5.87 5.84 Ba1/BB+ 3,000 200,000 1.71% -4.39% US900123CB40 USD 4.88 16.04.2043 88.494 88.994 5.73 5.69 Ba1/BB+ 3,000 200,000 1.86% -3.02% US900123CG37 USD 6.63 17.02.2045 109.683 110.183 5.91 5.88 Ba1/BB+ 3,000 200,000 1.79% -5.04% US900123CM05 USD 5.75 11.05.2047 96.969 97.469 5.97 5.93 Ba1/NA 1,750 200,000 N/A N/A XS0285127329 EUR 5.88 02.04.2019 109.223 109.473 0.91 0.78 Ba1/BB+ 1,250 50,000-0.14% -2.48% XS0503454166 EUR 5.13 18.05.2020 109.490 109.990 1.85 1.69 Ba1/BB+ 2,000 50,000-0.12% -1.36% XS0993155398 EUR 4.35 12.11.2021 108.259 108.909 2.39 2.24 Ba1/BB+ 1,250 100,000 0.24% -0.91% XS1057340009 EUR 4.13 11.04.2023 106.873 107.523 2.84 2.73 Ba1/BB+ 1,000 100,000 0.82% -0.12% AKBANK USM0375YAJ75 USD 3.88 24.10.2017 100.372 100.622 3.01 2.44 Ba1/BB+ 500 150,000 N/A -0.99% AKBANK USM0300LAC02 USD 6.50 09.03.2018 102.696 103.196 3.11 2.50 Ba1/BB+ 500 150,000 N/A -3.12% AKBANK XS1111101314 USD 4.00 24.01.2020 99.870 100.370 4.05 3.85 Ba1/BB+ 500 200,000 N/A 0.88% AKBANK USM0375YAK49 USD 5.00 24.10.2022 100.251 100.751 4.95 4.84 Ba1/BB+ 500 150,000 N/A -0.12% AKBANK XS1210422074 USD 5.13 31.03.2025 97.583 98.233 5.51 5.40 Ba1/BB+ 500 200,000 N/A -1.18% AKBANK XS1574750292 USD 7.20 16.03.2027 105.243 106.243 5.93 5.70 B1/BB 500 200,000 N/A N/A ALBARAKA XS1082151868 USD 6.25 30.06.2019 100.990 101.943 5.74 5.27 NA/NA 350 200,000 0.80% -1.25% ALBARAKA XS0927211754 USD 7.75 07.05.2023 99.882 100.950 7.87 6.73 NA/NA 200 200,000 1.15% 0.62% ALBARAKA XS1301525207 USD 10.50 30.11.2025 108.250 109.450 7.79 7.41 NA/NA 250 200,000 0.46% N/A ALTERNATİFBANK XS1089556358 USD 3.13 22.07.2019 99.595 100.345 3.32 2.96 NA/A+ 250 200,000 N/A 0.60% ALTERNATİFBANK XS1396282177 USD 8.75 16.04.2026 105.418 106.668 7.14 6.78 Ba3/BB+ 300 200,000 N/A 2.60% ANADOLU EFES XS0848940523 USD 3.38 01.11.2022 94.617 95.367 4.50 4.34 Baa3/NA 500 200,000 2.34% 7.21% ARÇELİK XS1109959467 EUR 3.88 16.09.2021 105.050 105.750 2.63 2.46 NA/BB+ 350 100,000 0.77% N/A ARÇELİK XS0910932788 USD 5.00 03.04.2023 100.200 100.950 4.96 4.81 NA/BB+ 500 200,000 1.73% 3.30% BANK ASYA XS0907295942 USD 7.50 28.03.2023 18.000 28.000 51.68 37.76 WR/NA 250 200,000 20.00% -71.65% BANKPOZİTİF XS0887586922 USD 5.00 07.02.2018 100.000 100.250 4.99 4.64 NA/BBB- 150 200,000 N/A 1.65% COCA-COLA XS0975576165 USD 4.75 01.10.2018 102.720 103.570 2.72 2.11 Baa3/BBB- 500 200,000 0.11% -1.38% EXPORT CREDIT BANK XS0774764152 USD 5.88 24.04.2019 104.179 104.679 3.63 3.36 Ba1/NA 750 200,000 N/A -0.66% EXPORT CREDIT BANK XS1345632811 USD 5.38 08.02.2021 102.689 103.189 4.58 4.44 Ba1/BB+ 500 200,000 N/A 0.68% EXPORT CREDIT BANK XS1028943089 USD 5.00 23.09.2021 101.174 101.674 4.70 4.57 Ba1/BB+ 500 200,000 N/A 0.55% EXPORT CREDIT BANK XS1496463297 USD 5.38 24.10.2023 99.990 100.990 5.38 5.19 Ba1/BB+ 500 200,000 1.56% N/A FİBABANKA XS1386178237 USD 7.75 24.11.2027 101.612 102.612 7.36 7.17 NA/B+ 300 200,000 N/A N/A FİNANSBANK XS0849733273 USD 5.15 01.11.2017 101.027 101.377 2.89 2.13 Ba1/BBB- 350 200,000 N/A -1.80% FİNANSBANK XS1063442484 USD 6.25 30.04.2019 104.878 105.378 3.65 3.39 Ba1/BBB- 500 200,000 N/A -1.06% GARANTİ USM8931TAE93 USD 4.00 13.09.2017 100.337 100.587 2.93 2.17 Ba1/BBB- 600 200,000 N/A -1.27% GARANTİ XS1084838496 EUR 3.38 08.07.2019 103.550 104.150 1.68 1.40 Ba1/BBB- 500 100,000 0.53% N/A GARANTİ XS1057541838 USD 4.75 17.10.2019 102.353 102.853 3.72 3.51 Ba1/BBB- 750 200,000 N/A 0.22% GARANTİ USM8931TAA71 USD 6.25 20.04.2021 106.060 106.560 4.55 4.41 Ba1/BBB- 500 200,000 N/A -0.88% GARANTİ USM8931TAF68 USD 5.25 13.09.2022 101.399 101.899 4.95 4.84 Ba1/BBB- 750 200,000 N/A -0.59% GARANTİ XS1576037284 USD 5.88 16.03.2023 103.249 103.874 5.22 5.10 Ba1/BBB- 500 200,000 N/A N/A GLOBAL LİMAN XS1132825099 USD 8.13 14.11.2021 106.000 107.000 6.19 5.81 B1/BB- 250 200,000 2.91% 16.64% HALK BANKASI XS0806482948 USD 4.88 19.07.2017 100.280 100.530 3.24 1.85 Ba1 /*-/BB+ 750 200,000 N/A -1.44% HALK BANKASI XS1069383856 USD 4.75 04.06.2019 100.005 100.655 4.75 4.41 Ba1 /*-/BB+ 500 200,000 N/A -0.49% HALK BANKASI XS0882347072 USD 3.88 05.02.2020 96.905 97.655 5.10 4.80 Ba1 /*-/BB+ 750 200,000 N/A 0.94% HALK BANKASI XS1188073081 USD 4.75 11.02.2021 97.923 98.673 5.37 5.14 Ba1 /*-/BB+ 500 200,000 N/A 0.95% HALK BANKASI XS1439838548 USD 5.00 13.07.2021 98.244 98.994 5.48 5.27 Ba1 /*-/BB+ 500 200,000 N/A N/A İŞ BANKASI XS0852697712 USD 3.88 07.11.2017 100.368 100.718 3.09 2.35 Ba1/BB+ 500 200,000 N/A -0.72% İŞ BANKASI XS0808632250 USD 3.75 10.10.2018 100.027 100.527 3.73 3.36 Ba1/BB+ 750 200,000 N/A 0.15% İŞ BANKASI XS0982644774 USD 5.50 21.04.2019 102.810 103.310 3.97 3.71 Ba1/BB+ 500 200,000 N/A -0.43% İŞ BANKASI XS1121459074 USD 5.00 30.04.2020 100.650 101.650 4.76 4.40 Ba1/BB+ 750 200,000 0.82% -0.54% İŞ BANKASI XS1079527211 USD 5.00 25.06.2021 99.990 100.490 5.00 4.87 Ba1/BB+ 750 200,000 N/A -0.01% İŞ BANKASI XS1390320981 USD 5.38 06.10.2021 100.619 101.119 5.21 5.09 Ba1/BB+ 750 200,000 N/A -0.52% İŞ BANKASI XS1508390090 USD 5.50 21.04.2022 100.070 101.070 5.48 5.25 Ba1/BB+ 600 200,000 1.34% N/A İŞ BANKASI XS0847042024 USD 6.00 24.10.2022 100.131 100.881 5.97 5.81 Ba3/BB 1,000 200,000 N/A 0.38% İŞ BANKASI XS1003016018 USD 7.85 10.12.2023 106.880 107.880 6.54 6.36 B1/BB 400 200,000 N/A 2.77% İŞ BANKASI XS1578203462 USD 6.13 25.04.2024 101.427 102.052 5.87 5.76 Ba1/BB+ 750 200,000 N/A N/A KOÇ HOLDİNG XS0922615819 USD 3.50 24.04.2020 100.030 100.780 3.49 3.22 Baa3/NA 750 200,000 0.84% 1.30% KOÇ HOLDİNG XS1379145656 USD 5.25 15.03.2023 103.270 104.020 4.58 4.43 Baa3/NA 750 200,000 1.94% 2.25% KUVEYT TÜRK XS1079236169 USD 5.16 26.06.2019 103.150 103.650 3.60 3.36 NA/BBB- 500 200,000 0.39% N/A KUVEYT TÜRK XS1323608635 USD 7.90 17.02.2026 107.300 108.000 5.71 5.51 NA/BB+ 350 200,000-0.33% N/A

3 MERSİN LİMAN XS0957598070 USD 5.88 12.08.2020 105.140 105.890 2.80 2.21 Baa3/BBB- 450 200,000 0.37% 0.61% ŞİŞECAM XS0927634807 USD 4.25 09.05.2020 100.240 101.240 4.16 3.81 Ba1/NA 500 200,000 0.69% 1.51% TSKB XS1117601796 USD 5.38 30.10.2019 102.345 103.095 4.36 4.04 Ba1/BB+ 350 200,000 N/A -0.39% TSKB XS1219733752 USD 5.13 22.04.2020 100.705 101.455 4.86 4.59 Ba1/BB+ 350 200,000 N/A -0.29% TSKB XS1412393172 USD 4.88 18.05.2021 98.516 99.266 5.29 5.08 Ba1/BB+ 300 200,000 N/A N/A TSKB XS1584113184 USD 7.63 29.03.2027 103.008 103.758 6.88 6.71 B1/BB- 300 200,000 N/A N/A TÜPRAŞ XS0849020556 USD 4.13 02.05.2018 100.874 101.374 3.20 2.67 Ba1/BBB- 700 200,000 0.37% 0.22% TURKCELL XS1298711729 USD 5.75 15.10.2025 103.810 104.560 5.18 5.08 Baa3/BBB- 500 200,000 2.23% 5.39% TÜRK TELEKOM XS1028952155 USD 3.75 19.06.2019 100.730 101.230 3.38 3.14 NA/BBB- 500 200,000 0.58% 0.23% TÜRK TELEKOM XS1028951264 USD 4.88 19.06.2024 98.550 99.300 5.12 4.99 NA/BBB- 500 200,000 1.86% 0.82% TÜRKİYE FİNANS XS1057852912 USD 5.38 24.04.2019 103.059 103.809 3.73 3.33 NA/BBB- 500 200,000 N/A -1.85% VAKIFLAR BANKASI XS0916347759 USD 3.75 15.04.2018 100.152 100.652 3.58 3.02 Ba1/BB+ 600 200,000 N/A 0.66% VAKIFLAR BANKASI XS0987355939 USD 5.00 31.10.2018 101.591 102.091 3.87 3.52 Ba1/BB+ 500 200,000 N/A -0.50% VAKIFLAR BANKASI XS1077629225 EUR 3.50 17.06.2019 102.300 102.700 2.36 2.16 Ba1/BB+ 500 100,000 0.69% N/A VAKIFLAR BANKASI XS1403416222 EUR 2.38 04.05.2021 99.750 100.250 2.44 2.31 Baa1/NA 500 100,000 0.88% 0.31% VAKIFLAR BANKASI XS1508914691 USD 5.50 27.10.2021 100.708 101.208 5.32 5.19 Ba1/BB+ 500 200,000 N/A N/A VAKIFLAR BANKASI XS0849728190 USD 6.00 01.11.2022 99.571 100.321 6.09 5.93 Ba3/BB 672 200,000 N/A 0.58% VAKIFLAR BANKASI XS1175854923 USD 6.88 03.02.2025 101.781 102.781 6.15 5.75 B1/BB 500 200,000 N/A 2.55% VAKIFLAR BANKASI XS1551747733 USD 8.00 01.11.2027 104.503 105.753 6.99 6.72 B1/BB 228 200,000 N/A N/A YAPI KREDİ XS0994815016 USD 5.25 03.12.2018 101.847 102.347 4.01 3.68 Ba1/BBB- 500 200,000 N/A -1.24% YAPI KREDİ XS1028938915 USD 5.13 22.10.2019 101.643 102.143 4.40 4.19 Ba1/BBB- 550 200,000 N/A -0.72% YAPI KREDİ XS0874840688 USD 4.00 22.01.2020 98.874 99.524 4.45 4.19 Ba1/BBB- 500 200,000 N/A 0.51% YAPI KREDİ XS0861979440 USD 5.50 06.12.2022 97.652 98.402 6.00 5.84 Ba2/BB+ 1,000 200,000 N/A -0.10% YAPI KREDİ XS1571399754 USD 5.75 24.02.2022 101.290 101.790 5.44 5.32 Ba1/BBB- 600 200,000 N/A N/A YAPI KREDİ XS1376681067 USD 8.50 09.03.2026 107.253 108.253 6.33 6.04 Ba3/BB+ 500 200,000 N/A 0.94% YAŞAR HOLDİNG XS1132450427 USD 8.88 06.05.2020 101.750 103.250 8.08 7.41 B2/B 250 200,000 0.00% -2.40% ZİRAAT BANKASI XS1083936028 USD 4.25 03.07.2019 100.587 101.087 3.96 3.71 Ba1/BB+ 750 200,000 N/A 0.09% ZİRAAT BANKASI XS1223394914 USD 4.75 29.04.2021 99.979 100.479 4.76 4.62 Ba1/BB+ 500 200,000 N/A -0.27% ZİRAAT BANKASI XS1605397394 USD 5.13 03.05.2022 99.859 100.359 5.16 5.04 Ba1/BB+ 600 200,000 N/A N/A Brezilya US105756BT66 BRL 8.50 05.01.2024 98.000 99.000 9.10 8.89 Ba2/BB 3,150 350,000 2.01% 8.39% US105756AR10 USD 8.88 15.04.2024 127.000 128.500 4.32 4.10 Ba2/BB 1,081 1,000 0.99% 4.10% US105756BV13 USD 4.25 07.01.2025 99.100 99.600 4.39 4.31 Ba2/BB 4,300 200,000-0.05% 5.03% US105756AE07 USD 10.13 15.05.2027 143.500 145.500 4.64 4.44 Ba2/BB 1,350 1,000-0.17% 3.99% US105756BB58 USD 8.25 20.01.2034 126.200 127.400 5.78 5.68 Ba2/BB 1,502 1,000 0.80% 9.83% ANDRADE GUTIER USL01795AA80 USD 4.00 30.04.2018 89.250 91.250 16.62 14.10 Caa2/B- 500 200,000-1.65% 23.96% BANCO DO BRASIL US05957PAN69 BRL 9.75 18.07.2017 99.000 99.625 15.22 11.60 Ba2/NA 350 5,000 0.00% 6.64% BANCO DO BRASIL USP3772WAF97 USD 9.00 PERP 104.800 105.800 8.09 7.91 B2/NA 2,170 200,000 0.77% 49.71% BRASKEM USG1315RAD38 USD 5.75 15.04.2021 105.100 106.100 4.32 4.05 Ba1/BBB- 1,000 200,000 0.57% 6.84% BRASKEM USG1315RAG68 USD 5.38 02.05.2022 103.350 104.350 4.61 4.39 Ba1/BBB- 500 200,000 0.58% 9.66% BRASKEM US10553YAF25 USD 6.45 03.02.2024 107.250 108.250 5.16 4.99 Ba1/BBB- 750 200,000 0.47% 8.88% BRF USP1905CAE05 USD 4.75 22.05.2024 99.000 100.000 4.92 4.75 Ba1/BBB 750 200,000 3.13% 0.51% CSN ISLANDS XI USG2583XAA93 USD 6.88 21.09.2019 81.500 83.500 16.71 15.51 Caa1/B- 750 100,000-6.32% 35.83% FIBRIA US31572UAE64 USD 5.25 12.05.2024 104.850 105.600 4.44 4.31 Ba1/BBB- 600 2,000 1.80% 4.07% ITAU UNIBANCO US46556MAF95 USD 5.65 19.03.2022 105.150 105.900 4.45 4.29 Ba3/BB- 1,250 200,000 0.14% 4.11% JBS USA29866AA70 USD 7.75 28.10.2020 104.600 105.600 5.70 3.70 NA/BB+ 1,000 200,000 0.58% 3.31% MARFRIG USN54468AA65 USD 8.38 09.05.2018 104.000 105.000 4.17 3.16 B2/BB- 216 200,000-1.42% 0.97% MARFRIG USN54468AD05 USD 6.88 24.06.2019 103.500 104.350 5.10-1.65 B2/BB- 660 200,000 0.36% 4.81% MINERVA USL6401PAC79 USD 7.75 31.01.2023 104.650 105.650 6.28 4.95 B1/BB- 250 200,000 1.11% 3.36% PETROBRAS US71645WAM38 USD 5.88 01.03.2018 102.500 103.150 2.66 1.84 B1/BB 545 2,000 0.24% 3.54% PETROBRAS US71645WAN11 USD 7.88 15.03.2019 108.150 108.900 3.25 2.85 B1/BB 706 2,000-0.55% 8.69% PETROBRAS US71645WAR25 USD 5.38 27.01.2021 102.250 102.850 4.70 4.53 B1/BB 5,250 2,000-0.73% 15.28% PETROBRAS US71647NAP42 USD 8.38 23.05.2021 112.450 113.450 4.92 4.67 B1/BB 6,750 2,000-0.71% N/A PETROBRAS US71647NAF69 USD 4.38 20.05.2023 95.850 96.600 5.19 5.04 B1/BB 3,500 2,000 0.63% 20.95% PETROBRAS US71647NAM11 USD 6.25 17.03.2024 103.500 104.250 5.62 5.49 B1/BB 2,500 2,000 0.24% 17.61% PETROBRAS XS0716979595 EUR 5.88 07.03.2022 112.350 112.850 3.07 2.97 B1/BB 600 100,000 0.40% 27.82% PETROBRAS XS0982711714 EUR 4.75 14.01.2025 105.000 105.600 3.98 3.89 B1/BB 800 100,000 0.91% 34.62% PETROBRAS US71647NAN93 USD 6.85 05.06.2115 88.750 89.750 7.72 7.63 B1/BB 2,500 2,000-0.95% 22.84% SUZANO USG8600UAA19 USD 5.88 23.01.2021 106.850 107.700 3.86 3.62 Ba1/BB+ 646 100,000 0.33% 5.01% VOTORANTIM USP98088AA83 USD 7.25 05.04.2041 102.150 103.150 7.06 6.98 Ba2/BBB- 1,151 200,000-0.34% 14.78% VOTORANTIM USP98088AA83 USD 7.25 05.04.2041 102.150 103.150 7.06 6.98 Ba2/BBB- 1,151 200,000-0.34% 14.78% VALE US91911TAM53 USD 4.38 11.01.2022 101.600 102.600 3.99 3.76 Ba2/BBB 2,250 2,000 0.10% 14.48% Rusya XS0504954347 USD 5.00 29.04.2020 106.650 107.100 2.65 2.49 Ba1/BBB- 3,500 100,000 0.23% 0.61% XS0971721450 USD 4.88 16.09.2023 108.400 108.800 3.39 3.32 Ba1/BBB- 3,000 200,000 0.79% 1.55% XS0088543193 USD 12.75 24.06.2028 175.550 177.550 4.18 4.02 Ba1/BBB- 2,500 10,000 0.17% 2.66% XS0971721963 USD 5.88 16.09.2043 114.750 115.350 4.87 4.84 Ba1/BBB- 1,500 200,000 0.88% 5.03% ALFA BANK XS0620695204 USD 7.75 28.04.2021 113.875 114.375 3.93 3.80 Ba2/BB+ 1,000 200,000 N/A 2.82% EVRAZ XS0618905219 USD 6.75 27.04.2018 103.875 104.375 2.59 2.07 B1/BB- 196 200,000 N/A 2.09% GAZPROM XS0424860947 USD 9.25 23.04.2019 111.950 112.350 2.87 2.67 Ba1/BBB- 2,250 100,000-0.04% -2.35% GAZPROM XS0906946008 EUR 3.39 20.03.2020 105.450 105.950 1.42 1.25 Ba1/BBB- 1,000 100,000 0.14% 4.05% GAZPROM XS0290580595 USD 6.51 07.03.2022 111.000 111.500 3.97 3.87 Ba1/BBB- 1,300 100,000 0.54% 3.02% GAZPROMBANK XS0987109658 EUR 3.98 30.10.2018 104.000 104.300 1.20 1.00 Ba2/BB+ 1,000 100,000 N/A 2.56% GAZPROMBANK XS0779213460 USD 7.25 03.05.2019 107.250 108.000 3.41 3.03 B2/BB 500 200,000 N/A 1.90% GAZPROMBANK XS0975320879 USD 7.50 28.12.2023 104.500 105.000 4.58 4.26 NR/B+ 750 200,000 N/A 8.43% LUKOIL XS0919502434 USD 3.42 24.04.2018 100.950 101.450 2.39 1.85 Ba1/BBB- 1,500 200,000 0.15% 0.70% LUKOIL XS0461926569 USD 7.25 05.11.2019 110.800 111.300 2.70 2.51 Ba1/BBB- 600 100,000-0.14% -0.40%

4 LUKOIL XS0554659671 USD 6.13 09.11.2020 109.850 110.350 3.12 2.97 Ba1/BBB- 1,000 200,000 0.23% 2.66% LUKOIL XS0304274599 USD 6.66 07.06.2022 112.100 112.600 3.99 3.89 Ba1/BBB- 500 100,000-0.22% 2.61% LUKOIL XS0919504562 USD 4.56 24.04.2023 102.150 102.650 4.15 4.06 Ba1/BBB- 1,500 200,000-0.29% 4.77% NORILSK XS1298447019 USD 6.63 14.10.2022 112.500 113.000 4.03 3.93 Ba1/BBB- 1,000 200,000 N/A 4.41% PROMSVYAZ BANK XS1086084123 USD 10.50 30.07.2021 113.750 114.750 6.69 6.44 B3/WD 321 200,000 N/A 11.52% ROSNEFT XS0861981180 USD 4.20 06.03.2022 100.100 100.600 4.18 4.06 Ba1/WD 2,000 200,000 0.45% 4.98% RUSSIAN AGRI BANK XS0979891925 USD 8.50 16.10.2023 115.250 115.750 5.63 5.55 NR/NA 500 200,000 N/A 16.41% RUSSIAN STD BANK XS1117280625 USD 13.00 27.10.2022 56.500 59.500 31.92 30.08 NA/NA 545 164,000 N/A 130.61% SBERBANK XS0897427570 TRY 7.40 04.03.2018 95.022 96.456 14.13 12.13 Ba1/BBB- 550 300,000-0.25% 4.89% SBERBANK XS0799357354 USD 5.18 28.06.2019 105.200 105.575 2.64 2.46 Ba1/BBB- 1,000 200,000 N/A 0.81% SBERBANK XS0638572973 USD 5.72 16.06.2021 108.089 108.488 3.57 3.47 Ba1/BBB- 1,000 200,000 0.45% 2.21% SBERBANK XS0848530977 USD 5.13 29.10.2022 103.125 103.625 4.47 4.37 Ba2/BB+ 2,000 200,000 N/A 3.64% SBERBANK XS0935311240 USD 5.25 23.05.2023 102.750 103.250 4.72 4.63 NA/BB+ 1,000 200,000 N/A 6.48% SBERBANK XS1032750165 USD 5.50 26.02.2024 102.000 102.500 4.32 4.03 NA/BB+ 1,000 200,000 N/A 5.70% VIP XS0643183220 USD 7.50 01.03.2022 113.130 113.630 4.43 4.32 Ba2/BB+ 1,280 200,000 0.00% 6.48% VNESHECONOMBANK XS0893205186 EUR 3.04 21.02.2018 101.625 102.125 0.91 0.28 NA/BBB- 1,000 100,000 N/A 1.63% VNESHECONOMBANK XS0993162170 USD 4.22 21.11.2018 102.350 102.850 2.63 2.30 NA/BBB- 850 200,000 N/A 2.35% VTB BANK XS0842078536 USD 6.95 17.10.2022 109.050 109.550 5.02 4.92 Ba3/WD 1,412 200,000 N/A 9.60% Venezuella US922646AT10 USD 13.63 15.08.2018 77.750 79.750 37.38 34.86 Caa3/CCC 753 1,000-6.89% 16.48% US922646AS37 USD 9.25 15.09.2027 51.100 52.100 21.00 20.61 Caa3/CCC 4,000 1,000 4.82% 21.67% US922646BL74 USD 9.38 13.01.2034 46.650 47.900 20.97 20.45 Caa3/CCC 1,500 2,000 3.67% 22.76% USP17625AB33 USD 9.25 07.05.2028 46.300 47.550 22.72 22.15 Caa3/CCC 2,000 100 4.87% 22.49% USP17625AC16 USD 12.75 23.08.2022 57.600 58.600 28.84 28.28 Caa3/CCC 3,000 100-1.54% 27.15% USP17625AD98 USD 11.95 05.08.2031 53.500 54.750 23.23 22.72 Caa3/CCC 4,200 100 0.00% 27.68% USP17625AE71 USD 11.75 21.10.2026 54.500 55.500 24.19 23.76 Caa3/CCC 3,000 100 1.49% 30.23% USP97475AN08 USD 7.75 13.10.2019 54.800 56.000 37.98 36.81 Caa3/CCC 2,496 100-4.45% 37.69% PDVSA USP7807HAK16 USD 8.50 02.11.2017 87.750 88.600 39.81 37.36 NA/CC 1,121 100 3.66% 52.87% PDVSA USP7807HAM71 USD 12.75 17.02.2022 57.500 58.000 30.07 29.77 NA/CC 3,000 100-2.54% 24.32% PDVSA XS0294364954 USD 5.38 12.04.2027 37.250 38.750 20.32 19.62 NA/CC 3,000 400 4.20% 10.04% Meksika US91087BAA89 USD 3.60 30.01.2025 100.600 101.100 3.51 3.44 A3/BBB+ 2,475 200,000 0.60% -1.61% US91086QBF46 USD 4.60 23.01.2046 96.150 97.150 4.85 4.78 A3/BBB+ 3,000 200,000 0.84% -3.07% BBVA BANCOMER USP16259AB20 USD 6.50 10.03.2021 109.400 109.650 3.83 3.76 Baa3/BBB- 1,250 150,000-0.09% 0.27% BBVA BANCOMER USP16259AK29 USD 4.38 10.04.2024 103.000 104.000 3.87 3.71 A3/A- 750 150,000 0.49% -0.72% CFELEC USP30179AM09 USD 4.88 15.01.2024 104.100 104.850 4.16 4.04 Baa1/BBB+ 1,250 200,000 0.82% 0.58% CEMEX USP2253TJD20 USD 6.50 10.12.2019 105.500 106.500 2.40 0.72 NA/BB- 618 200,000 0.00% 0.36% CEMEX USP2253TJE03 USD 5.70 11.01.2025 105.125 105.625 4.64 4.45 NA/BB- 1,071 200,000 1.20% 9.22% CEMEX USP22575AF47 USD 7.25 15.01.2021 106.850 107.850 2.24 0.82 NA/BB- 342 200,000-0.14% -0.14% CEMEX USU12763AC92 USD 9.38 12.10.2022 107.150 108.000 3.06 1.11 NA/BB- 1,056 200,000-0.79% -2.59% CEMEX USU12763AD75 USD 6.00 01.04.2024 105.850 106.700 4.27 3.82 NA/BB- 1,000 200,000-0.14% 6.38% PEMEX XS1379158048 EUR 5.13 15.03.2023 111.700 112.050 2.91 2.85 Baa3/BBB+ 900 100,000 0.95% 6.58% PEMEX US71654QBG64 USD 3.50 30.01.2023 95.850 96.600 4.33 4.18 Baa3/BBB+ 2,100 10,000 1.11% 3.06% PEMEX US71656MAF68 USD 6.63 PERP 99.000 100.500 6.75-0.29 Baa3/BBB+ 1,000 10,000 0.10% 4.65% Arjantin XS0501195480 USD 8.75 02.06.2017 100.200 100.500 4.33-1.76 NA/WD 950 1-0.45% -3.28% US040114GL81 USD 8.28 31.12.2033 111.750 112.750 6.79 6.67 B3/WD 3,966 1 2.76% 7.97% US040114GK09 USD 2.50 31.12.2038 66.500 67.250 7.00 6.92 B3/WD 5,297 1 3.02% 7.00% Güney Afrika US836205AN45 USD 5.50 09.03.2020 106.160 106.350 3.19 3.12 Baa2 /*-/BB+ 1,619 100,000 0.63% -0.08% US836205AQ75 USD 4.67 17.01.2024 102.010 102.385 4.31 4.25 Baa2 /*-/BB+ 1,500 100,000 2.01% 2.14% US836205AR58 USD 5.88 16.09.2025 108.375 108.875 4.65 4.58 Baa2 /*-/BB+ 2,000 200,000 2.24% 0.72% US836205AS32 USD 5.38 24.07.2044 99.250 99.750 5.43 5.39 Baa2 /*-/BB+ 1,000 200,000 2.85% 2.32% ANGLOGOLD US03512TAC53 USD 5.13 01.08.2022 104.050 104.650 4.25 4.12 Baa3/NA 750 1,000 1.22% 5.10% ESKOM XS0579851949 USD 5.75 26.01.2021 101.100 101.600 5.41 5.27 Ba1 /*-/NA 1,750 200,000 1.97% 9.00% ESKOM XS1187065443 USD 7.13 11.02.2025 103.450 103.950 6.55 6.47 Ba1 /*-/NA 1,250 200,000 3.55% 11.66% TRANSNET XS0809571739 USD 4.00 26.07.2022 96.800 97.550 4.70 4.53 Baa2 /*-/BB+u 1,000 200,000 2.33% 5.22% ZAR SOV CAPITAL FUND XS1113141441 USD 3.90 24.06.2020 101.250 102.250 3.47 3.14 Baa2 /*-/BB+ 500 200,000 1.10% 1.12% Azerbaycan XS1044540547 USD 4.75 18.03.2024 102.350 102.750 4.35 4.28 Ba1/BB+ 1,250 200,000 0.84% 6.06% IBAZAZ XS0300013462 USD 6.17 10.05.2017 100.000 100.250 NA NA WR/NA 100 100,000 0.12% 6.38% SOCAR XS0903465127 USD 4.75 13.03.2023 99.300 99.800 4.89 4.79 Ba1/BB+ 1,000 200,000 1.27% 9.12% SOCAR XS1196496688 USD 6.95 18.03.2030 108.600 109.350 5.98 5.90 NR/BB+ 750 200,000 1.16% 12.25% Gürcistan GEORGIAN RAILWAY XS0800346362 USD 7.75 11.07.2022 110.250 111.250 5.44 5.23 NA/B+ 500 200,000 0.23% 1.61%

5 Kazakistan XS1120709669 USD 3.88 14.10.2024 100.900 101.400 3.73 3.66 Baa3/BBB 1,500 200,000-0.35% 2.96% XS1263054519 USD 5.13 21.07.2025 108.800 109.300 3.86 3.79 Baa3/BBB 2,500 200,000-0.37% 3.37% XS1120709826 USD 4.88 14.10.2044 98.700 99.350 4.96 4.92 Baa3/BBB 1,000 200,000-0.55% 9.67% XS1263139856 USD 6.50 21.07.2045 118.700 119.200 5.22 5.19 Baa3/BBB 1,500 200,000-0.50% 8.90% KAZAGRO XS0934609016 USD 4.63 24.05.2023 99.250 99.850 4.77 4.65 NA/BBB- 961 200,000 0.71% 17.46% KAZKOMMERTSBANK XS0867478124 USD 5.50 21.12.2022 94.000 95.000 6.80 6.58 NA/CCC /* 750 1 N/A 37.23% Yunanistan GR0128010676 EUR 3.00 24.02.2023 90.274 91.074 5.52 5.35 NA/CCC 1,792 1 6.99% 15.93% GR0128011682 EUR 3.00 24.02.2024 89.196 89.996 5.57 5.41 NA/CCC 1,771 1 7.83% 16.36% GR0128012698 EUR 3.00 24.02.2025 87.994 88.794 5.63 5.49 NA/CCC 1,744 1 7.98% 17.12% GR0128013704 EUR 3.00 24.02.2026 87.253 88.053 5.62 5.49 NA/CCC 1,499 1 8.77% 18.08% GR0128014710 EUR 3.00 24.02.2027 86.531 87.331 5.61 5.49 NA/CCC 1,470 1 9.06% 20.46% GR0133006198 EUR 3.00 24.02.2028 83.334 84.134 5.95 5.84 NA/CCC 1,525 1 8.33% 18.43% GR0133007204 EUR 3.00 24.02.2029 80.846 81.646 6.18 6.07 NA/CCC 1,504 1 7.55% 17.12% GR0133008210 EUR 3.00 24.02.2030 79.586 80.386 6.23 6.12 NA/CCC 1,435 1 8.14% 17.39% GR0133009226 EUR 3.00 24.02.2031 78.607 79.407 6.25 6.15 NA/CCC 1,368 1 8.51% 18.05% GR0133010232 EUR 3.00 24.02.2032 77.406 78.206 6.30 6.20 NA/CCC 1,374 1 8.55% 17.88% GR0138005716 EUR 3.00 24.02.2033 76.356 77.156 6.33 6.23 NA/CCC 1,453 1 8.49% 17.99% GR0138006722 EUR 3.00 24.02.2034 75.491 76.291 6.35 6.25 NA/CCC 1,410 1 8.44% 18.08% GR0138007738 EUR 3.00 24.02.2035 74.351 75.151 6.40 6.31 NA/CCC 1,444 1 8.03% 17.82% GR0138008744 EUR 3.00 24.02.2036 73.778 74.578 6.39 6.30 NA/CCC 1,505 1 8.29% 18.08% GR0138009759 EUR 3.00 24.02.2037 73.316 74.116 6.37 6.29 NA/CCC 1,396 1 8.54% 17.87% GR0138010765 EUR 3.00 24.02.2038 73.006 73.806 6.34 6.26 NA/CCC 1,382 1 8.34% 17.55% GR0138011771 EUR 3.00 24.02.2039 72.917 73.717 6.30 6.21 NA/CCC 1,337 1 8.31% 17.54% GR0138012787 EUR 3.00 24.02.2040 72.808 73.608 6.26 6.18 NA/CCC 1,372 1 8.22% 17.40% GR0138013793 EUR 3.00 24.02.2041 72.802 73.602 6.21 6.13 NA/CCC 1,363 1 8.22% 17.44% GR0138014809 EUR 3.00 24.02.2042 72.804 73.604 6.17 6.09 NA/CCC 1,433 1 8.16% 17.37% Çin BANK OF CHINA US06120TAA60 USD 5.00 13.11.2024 106.489 106.836 3.99 3.94 Baa3/BBB+ 3,000 200,000-0.39% 2.01% CENTRAL CHINA XS0937236783 USD 6.50 04.06.2018 101.650 101.950 4.87 2.09 Ba3/NA 400 200,000-0.10% 2.01% CHINA SHANSHUI XS1200439609 USD 7.50 10.03.2020 77.000 82.000 18.28 15.62 NA/WD 427 200,000 2.67% 9.22% CNPC HK USG21895AC44 USD 5.95 28.04.2041 121.703 124.285 4.47 4.31 A1/A+ 500 200,000-1.24% -1.07% EVERGRANDE USG3225AAD57 USD 8.75 30.10.2018 103.700 103.950 5.22 4.68 B3/NA 1,500 200,000 0.00% 4.69% HUARONG FINANCE XS1165659357 USD 4.50 16.01.2020 102.896 103.062 3.36 3.29 Baa1/A 1,200 200,000-0.49% -2.34% IND & COMM BANK USY39656AA40 USD 6.00 PERP 105.400 105.600 3.71 3.63 Ba2/NA 2,940 200,000 0.33% 2.18% PARKSON RETAIL XS0920864708 USD 4.50 03.05.2018 99.550 99.850 4.98 4.66 B3/B- 483 200,000 0.40% 11.70% Hindistan JSW STEEL LTD XS1133588233 USD 4.75 12.11.2019 101.250 102.250 4.22 3.79 Ba3/BB 500 200,000 0.25% 17.39% RELIANCE HOLDINGS US759468AC51 USD 5.40 14.02.2022 108.908 109.291 3.35 3.27 Baa2/NA 1,500 250,000-0.51% -2.61% Endonezya PERTAMINA USY7138AAA89 USD 5.25 23.05.2021 107.000 107.500 3.37 3.24 Baa3/BBB- 1,000 200,000 0.23% 1.30% Peru UNACEM USP9451YAC77 USD 5.88 30.10.2021 103.000 103.750 4.92 4.69 Ba2/NA 625 150,000 0.00% 1.73% Nijerya ACCESS XS0807677496 USD 7.25 25.07.2017 100.250 101.250 5.82 0.79 NA/B 237 200,000-0.12% 1.14% Birleşik Arap Emirlikleri (Sukuk) JAFZ SUKUK 2019 XS0794821453 USD 7.00 19.06.2019 109.000 109.500 2.56 2.33 Baa2/BBB 650 200,000-0.37% -2.55% DIP SUKUK LTD XS1035007530 USD 4.29 20.02.2019 102.000 102.500 3.11 2.83 NA/NA 300 200,000-0.24% 0.49% EMAAR SUKUK LTD XS0805885349 USD 6.40 18.07.2019 107.800 108.300 2.68 2.46 Baa3/NA 500 200,000-0.46% -2.66% DIB SUKUK LTD XS1241110300 USD 2.92 03.06.2020 99.750 100.250 3.01 2.83 Baa1/A 750 200,000 0.12% 0.88% EMG SUKUK XS1075401726 USD 4.56 18.06.2024 104.625 105.125 3.81 3.73 Baa2/NA 750 200,000 0.24% N/A ABU DHABI NATIONAL XS0863524277 USD 3.63 12.01.2023 100.813 101.313 3.46 3.37 A3/NA 1,250 200,000-0.31% 2.35% EMIRATES XS0885065887 USD 4.50 06.02.2025 101.250 102.250 4.31 4.16 NA/NA 571 200,000-0.34% -0.59%