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Turkish Bonds Retrace Early Weakness As Diplomatic Tensions Ease

TURKEY
  • Local & USD rates remain unchanged this morning, having closed mixed to weaker after a choppy day of diplomatic tensions with the West.
  • TurkGBs retraced early weakness brought on by threats of diplomat expulsions to close slightly weaker on the day with 2Y & 7 Y yields most offered at +10-13bp.
  • Similarly, USD bonds pared early weakness with the curve flattening at both ends: 2-3Y yields finished +3-3.3bp, while 7-10Y yields ended -1.6-2.5bp after trading weaker at the start of the session.
  • Turkey's 5Y CDS also retreated from fresh highs above 470 to close -6bp lower on the day at 458.52.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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