Japan's 10-year bond auction tail spread was 0.02, the lowest since June 2025.

BofA Securities says a large portion of September’s Turkey fund sell-off flowed into bank deposits. BofA economist Hande Kucuk reports Tefas, the Turkish electronic fund trading platform, saw net redemptions of about 743 billion lira (roughly $15bn) in September. The Tefas figure covers the full mutual fund universe through Sept. 16; 131 funds were later excluded after regulator-ordered liquidations. Between Sept. 1–29 bank deposits rose about 950 billion lira, with corporate deposits up roughly 884 billion; 63% of the corporate inflow was lira and 37% foreign-currency, broadly matching recent dollarization trends. The September fund-market shock drained hundreds of billions of lira from investment funds and raised concerns about rising dollarization that could threaten exchange-rate stability—important to Turkey’s strategy for fighting inflation—though Kucuk says dollarization in September remained within a manageable range. BofA expects residents’ foreign-currency-linked assets to have increased by about $1.7bn.

Berenberg cut its price target on Nike (NKE.N) to $27.50 from $49.