Lira Weakens as Turkish Yields Climb on Sixth Day of Protests
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The lira weakened and bond yields rose as anti-government demonstrations in Turkey continued for a sixth day. Shares slid, with Akbank TAS among the decliners as Bank of America Merrill Lynch cut the lender to underperform.
Markets swung to negative after a record rally in two-year bonds yesterday followed the biggest plunge a day earlier. Protesters accusing Prime Minister Recep Tayyip Erdogan of autocratic governance and citing grievances, including alleged police brutality and curbs on alcohol sales, clashed overnight with police, who responded with tear gas and water cannons in about 10 cities.