Moody’s Spurning Upgrade Sends Buyers Down Curve

Moody’s Spurning Upgrade Sends Buyers Down Curve

Kerem Uzel/Bloomberg

Skyscrapers stand on the horizon beyond residential properties in the Mecidiyekoy district of Istanbul. Five-year credit-default swaps on Turkey fell two basis points to 134 yesterday, compared with 142 for Russia and 170 for South Africa, both of which are rated higher.