Erdogan Power Grip Prompts Worst Turkey Bond Rout in Year: ChartBy
Investors taken aback by political upheaval in Turkey that forced Prime Minister Ahmet Davutoglu to say he’s stepping down are selling the nation’s bonds at the fastest pace in more than a year. The move put the spotlight on efforts by President Recep Tayyip Erdogan to tighten his grip on power. Yields on 10-year government notes have risen 82 basis points in the past seven days, the most since February 2015 and pushing the rate above 10 percent.
— With assistance by Stephen Kirkland
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