Turkish bonds headed for their lowest close since 2009 and the lira declined for a sixth day as a slump in Chinese industrial profit fueled investor concerns over global growth, curbing demand for riskier assets. Stocks also fell.
The yields on two-year notes rose 22 basis points to 11.61 percent at 5:42 p.m. in Istanbul, the highest level on a closing basis since July 2009. The rate on 10-year bonds jumped 19 basis points to 10.98 percent. The lira was little changed at 3.0471 per dollar after fluctuating between a 0.6 percent gain and a 0.5 percent loss. The Borsa Istanbul 100 Index of stocks dropped 1.7 percent.