April 12, 2019 / 8:16 AM / 2 months ago

Turkey dollar bonds tumble as lira selloff extends

LONDON, April 12 (Reuters) - Turkey’s dollar-denominated sovereign bonds fell across the curve on Friday as festering disappointment over the country’s economic strategy laid out this week kept the lira on the slide.

Longer-dated issues suffered the steepest drops. The country’s 2045 bond tumbled as much as 1.2 cents to trade at 84.33 cents in the dollar, according to Tradeweb data.

Many longer-dated issues now trade at their lowest level since the market turmoil in the run up to the local elections in late March.

The Turkish lira weakened to as little as 5.80 against the dollar on Friday, as it headed for its ninth-weekly fall in the last ten. (Reporting by Karin Strohecker; editing by Marc Jones)

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