October 18, 2019 / 7:43 AM / a month ago

Turkey, Halkbank dollar-bonds rally after Syria deal with U.S.

LONDON, Oct 18 (Reuters) - Dollar-denominated bonds issued by Turkey’s government and state-lender Halkbank rallied sharply on Friday after Ankara agreed with the United States to pause its Syria assault.

Longer-dated government bonds chalked up the largest gains with the 2030 issue jumping 1.6 cents to 135.186 cents in the dollar, according to Tradeweb.

Dollar-denominated bonds issued by the country’s second-largest bank Halkbank also gained with the 2021 issue adding as much as 2.7 cents to 89.95 cents in the dollar.

The gains in Halkbank only partially recovered the hefty loss on Thursday when some issues tumbled more than 5 cents after U.S. prosecutors charged the state-owned lender with taking part in a scheme to evade U.S. sanctions on Iran. (Reporting by Karin Strohecker; editing by Josephine Mason)

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