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Authorities Look to Limit Certain Debt Sales to Shore TRY

TURKEY
  • Wires report that Turkish banks have been told to refrain from marketing supranational debt, with Turkey planning to limit purchases of such debt by locals. The measures look to be part of the policy to deter TRY short-selling via this instrument.
  • The measures effectively translate a limiting of supply of liquidity in offshore markets, thereby increasing the cost of speculating against (and shorting) the TRY.

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