LONDON, Feb 20 (Reuters) - Turkish sovereign dollar bonds fell and the cost of insuring exposure to the country’s sovereign debt rose on Tuesday as pro-Syrian government forces entered Syria’s northwestern Afrin region to help a Kurdish militia fend off a Turkish assault.
Turkey’s May 2040 bond fell over 1 cent to 104 cents, according to Tradeweb data. The April 2043 issue also fell over 1 cent to trade at 82 cents.
Turkish five-year credit default swaps rose 9 basis points from Monday’s close to 172 basis points - the highest level since Friday, according to HIS Markit..
Turkey’s month-old offensive is aimed at driving the Kurdish YPG militia, which it sees as a big security threat on its border, from Afrin. (Reporting by Claire Milhench, editing by Karin Strohecker)