BIST 100 Caught by Circuit Breaker: Default in Pusula Portföy Funds
Pusula Portföy Yönetimi announced to the Public Disclosure Platform (KAP) that a default had occurred in redemption payments on units of the Pusula Portföy Money Market (TL) Fund and the Pusula Portföy Second Money Market (TL) Fund that it manages; the company said work with brokerage firms and liquidity management processes was ongoing. The development spread through Pusula Portföy, whose shares are planned to be sold to Tera Group but whose transfer has not yet been legally completed, while Tera Group announced it was not responsible for the liquidity and portfolio management of the funds it manages. Following the news, the BIST 100 index fell during the day by more than 6%, to 13,075 points, its lowest level since May; the banking index lost 4.92% and the industrial index fell 5.13%. Borsa Istanbul activated its Index-Based Circuit Breaker System (EBDK) at 16.04 (TSİ) as losses exceeded 6%; all trading on the Equity Market was halted for about 20 minutes before resuming at 16.24 (TSİ).
US August Retail Sales Rose Well Above Expectations
In the US, August retail sales rose 1.2%, well above the market forecast of 0.8%, reaching $773.9 billion; this was the largest monthly increase in five months and followed a (revised) 0.5% decline in July. The core group, which excludes autos, gasoline, building materials and food services, rose 1.4% versus a forecast of 0.4%. The strong data reinforced expectations for a 25 basis point rate hike in today's Fed FOMC decision, due at 21.00 (TSİ).
Oil Retreats After Statement That Saudi Pipeline Will Be Repaired 'Within Days'
Crude oil retreated on Wednesday after US Energy Secretary Chris Wright said Saudi Arabia's damaged East-West Oil Pipeline, which has a capacity of 7 million barrels a day, would be brought back online "within days": WTI fell 2.5% to $103.19 a barrel, while Brent dropped 1.7% to $106.93. Some independent analysts expect that repairing the damage seen in satellite images of the pumping station could take weeks.
Wall Street Trades Modestly Higher Ahead of Fed Decision
Wall Street's three main indexes traded modestly higher on Wednesday ahead of today's Fed FOMC decision, due at 21.00 (TSİ): the S&P 500 gained 0.25%, the Dow Jones 0.15%, and the Nasdaq Composite 0.44%. The Russell 2000 index, which represents small-cap companies, fell 0.76%.
Ekonomik Takvim | 14-20 September 2026
🇺🇸 16 September 2026, 21.00 (TSİ)
Fed FOMC Interest Rate Decision
The decision following the two-day meeting will be announced at 21.00 (TSİ), with Fed Chair Kevin Warsh's press conference to follow at 21.30 (TSİ).
🇬🇧 17 September 2026, 14.00 (TSİ)
Bank of England (BoE) Interest Rate Decision
The decision, to be announced at 12.00 UK time (14.00 TSİ), is expected to keep the rate steady at 3.75%; market pricing points to roughly a one-in-three probability of a 25-basis-point hike.
🇯🇵 18 September 2026 (TSİ afternoon)
Bank of Japan (BoJ) Interest Rate Decision
In the decision to be announced after the two-day meeting, all 52 BoJ watchers surveyed by Bloomberg expect a rate hike.
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