August 29, 2018 / 7:37 AM / 21 days ago

Turkish sovereign dollar bonds fall after Moody's warning

LONDON, Aug 29 (Reuters) - Dollar-denominated bonds issued by the Turkish government fell across the curve on Wednesday after ratings agency Moody’s downgraded 20 Turkish financial institutions, citing an increased risk of a deterioration in funding.

Turkey’s 2043 Eurobond fell 1 cent to 68.22 cents in the dollar according to Tradeweb, and the 2045 issue fell 1.1 cent to 80.77 cents.

In another sign of deterioration, Turkey’s economic confidence index fell 9 percent month-on-month to 83.9 points in August, its lowest since March 2009.

Reporting by Claire Milhench Editing by Alison Williams

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