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Turkey Bond Weekly Slide Shows Growing Pressure for Higher Rates

TURKISH CURRENCY
Suzanne Plunkett/Bloomberg News
Updated on

Turkish bonds fell, pushing two-year yields to the highest in more than a year, amid speculation higher borrowing costs will be needed to shore up the lira.

The yield on two-year government notes was 11.13 percent at 5 p.m. in Istanbul, following a 95 basis-point spike during the week to the highest level since March 2014. The lira ended little changed at 2.9149 after dropping 2.9 percent this week. It marked the fifth week of losses, the longest stretch since January.