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TURKEY: Turkey Said to Be Buying USTs as Part of Efforts to Normalise Reserves

TURKEY
BulletEM BulletEmerging Market News

Bloomberg report that Turkey has started buying US Treasuries for the first time in almost a decade, according to a person familiar with the matter. More details below via BBG:

  • "The central bank is purchasing the Treasuries as part of its efforts to normalize reserves policy, with foreign-currency reserves now at a healthy level, the person said"
  • "The amount of US Treasury bonds in Turkish reserves has increased by $10 billion over the last year to $12 billion, according to US Treasury data compiled by Bloomberg. Most of the holdings, which reached a peak of almost $80 billion a decade ago, were dumped by Ankara after relations with Washington began to sour over a range of political and geopolitical disagreements during Donald Trump’s first term in office." 
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Bloomberg report that Turkey has started buying US Treasuries for the first time in almost a decade, according to a person familiar with the matter. More details below via BBG:

  • "The central bank is purchasing the Treasuries as part of its efforts to normalize reserves policy, with foreign-currency reserves now at a healthy level, the person said"
  • "The amount of US Treasury bonds in Turkish reserves has increased by $10 billion over the last year to $12 billion, according to US Treasury data compiled by Bloomberg. Most of the holdings, which reached a peak of almost $80 billion a decade ago, were dumped by Ankara after relations with Washington began to sour over a range of political and geopolitical disagreements during Donald Trump’s first term in office."