May 24, 2018 / 7:16 AM / a month ago

Turkish dollar bonds rise after emergency rate hike

LONDON, May 24 (Reuters) - Turkish sovereign dollar bonds rose across the curve on Thursday after the central bank raised its key interest rate by 300 basis points the previous evening in an attempt to arrest the plunge in the lira.

The gains were greatest at the long end of the curve according to Tradeweb data, with the February 2034 issue up 1.7 cents to 105.1 cents.

The May 2040 eurobond and the February 2045 issue also gained 1.6-1.8 cents.

Reporting by Claire Milhench Editing by Gareth Jones

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