LONDON, March 28 (Reuters) - Turkey’s sovereign dollar bonds fell broadly on Wednesday, with its May 2040 issue at a 13-month low as investors fretted about double-digit inflation and the country’s high external borrowing requirements.
Turkey’s 2040 Eurobond fell 0.13 cents to 101.36 cents in the dollar according to Tradeweb data, the lowest since the start of February 2017.
In a broad-based sell off, Turkish five-year credit default swaps also hit 203 basis points, their highest level since end-November.
The lira also weakened, sliding past the psychologically important level of 4.0 to the U.S. dollar.
Reporting by Claire Milhench; editing by Marc Jones