Riyadh Newspaper Turkish sovereign bonds plunge and issue the 2030 minimum in 6 weeks

Dollar bonds issued by the Turkish government fell on Tuesday. The issue of 2030 reached its lowest level in six weeks, in a context of continued pressure on the lira.

According to Tradeweb data, the 2030 and 2034 issues both fell by more than one cent in dollars.

The lira fell about 0.5% against the dollar on Monday, prolonging losses after falling more than 1% on Monday, its lowest level since June 19th, amid concerns over the US dollar. impact of the Sino-US trade war and tensions in northwestern Syria.

"Investors are wary of the impact of interest rate cuts on the lira, as the currency will be the first macroeconomic indicator to react to this change," said Nikolai Markov, an economist at Pictet Asset Management.