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Turkey in Worst Emerging Bond Slump Not Enough to Lure Aviva

Turkish bond yields are rising faster than the rest of emerging-market debt and still can’t entice the world’s biggest investors, who say policy makers won’t curb inflation unless they take steps to slow growth.

Yields on Turkish government two-year notes climbed to 10.9 percent yesterday from 8.4 percent at the end of September, the largest increase among 16 developing nations tracked by JPMorgan Chase & Co. Aviva Investors Ltd.’s Kieran Curtis says rates need to reach 11.5 percent before he considers buying. Dmitri Barinov, a fund manager at Union Investment Privatfonds, is waiting for 15 percent.