Trump Reports Positive Call with Turkey's Erdogan

President Trump's statement regarding a positive call with Turkish President Erdogan suggests a potential de-escalation of bilateral tensions, which have recently centered on Syria and Turkey's S-400 missile acquisition. This development could improve risk appetite towards Turkish assets, as reduced geopolitical friction typically lowers the perceived risk premium. Turkish Lira (TRY) and local sovereign bonds are most exposed, as improved diplomatic relations could stem capital outflows and potentially attract foreign direct investment. Traders will closely monitor any official statements from the Turkish side or further details from the White House regarding the substance of the call, particularly concerning the S-400 issue and ongoing operations in Syria.

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