jaunumi

15.10.2019

Turkey dollar bonds gain on softer-than-expected U.S. sanctions

Turkey’s sovereign dollar-denominated bonds rallied on Tuesday after Washington imposed lighter-than-expected sanctions over Ankara’s military incursion into Syria with the lira also strengthening against the dollar.

Longer-dated issues enjoyed the largest gains with the 2045 issue adding 1.4 cents in the dollar to trade at 91.146 cents, Tradeweb data showed.

“The rebound in prices this morning reflects the sanctions, which did not touch state owned banks that some investors had been worried about,” said Koon Chow, emerging markets strategist at UBP.

“The sanctions covered a number government officials, the energy ministry and the defense ministry – the sanctions on both ministries has low or little implication for capital flows into or out of the country.”

Source: Reuters.
atpakaļ uz jaunumiem