Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Turkey Yields Drop to 18-Month Low as Manufacturing Contracts

Aug. 1 (Bloomberg) -- Turkey’s bond yields fell to the lowest in more than 1 1/2 years after a manufacturing gauge re-entered contraction territory.

Yields on two-year benchmark debt slid for a third day, retreating two basis points, or 0.02 percentage point, to 7.60 percent by the close in Istanbul, the least since January 2011. The lira depreciated for the first time in six days, trading less than 0.1 percent weaker at 1.7960 per dollar.

The July manufacturing HSBC purchasing managers’ index fell to 49.4, the lowest since August, from 51.4 in June and 49.6 in March, HSBC said in an e-mailed statement today. A reading below 50 indicates contraction. Turkey’s consumer confidence index fell to 94.6 in July from 96.3 in the previous month, CNBC-e television reported from Istanbul today, citing a survey it conducted. Turkey’s trade deficit narrowed to $7.2 billion from $10.2 billion a year ago, the statistics office in Ankara said on its website yesterday.

“Worries about growth are becoming more emphasized and there is a generally rate-friendly environment in the world,” Sercan Kiliclar, a fixed-income trader at Akbank TAS in Istanbul, said in e-mailed comments. “Today’s data are supporting this.”

The Turkish government sees economic growth falling to 4 percent this year from 8.5 percent last year. Gross domestic product contracted 0.4% in the first quarter, the first time since March 2009.

To contact the reporters on this story: Selcuk Gokoluk in Istanbul at

To contact the editor responsible for this story: Gavin Serkin at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.