A logo of Turkey's Central Bank is pictured at the entrance of the bank's headquarters in Ankara. Photo: Reuters, Umit Bektas
A logo of Turkey's Central Bank is pictured at the entrance of the bank's headquarters in Ankara. Photo: Reuters, Umit Bektas
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Turkish bonds continue rally amid tightening

10-year lira bonds rose for a fifth straight day on Tuesday

March 22, 2017 12:18 AM (UTC+8)

Turkish 10-year lira bonds rose for a fifth straight day Tuesday on the central bank’s moves to increase borrowing costs. Constantine Courcoulas writes for Bloomberg that BNP Paribas SA and JPMorgan Chase say the bonds are still attractive, citing the central bank’s moves. The lira hit a record low this year, while consumer-price inflation accelerated to double the central bank’s target. Bryan Carter of BNP Paribas sees Turkey maintaining relatively tight monetary policy, and says that with yields higher than 11%, lira-denominated debt is “very enticing now.”

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