Thwarted Coup Cuts Turkey’s Edge Over Emerging Markets: Chart

Turkey’s attempted military coup last Friday is eroding a yield discount to emerging-market bonds that has lasted since 2008. The premium money managers demand to hold the country’s debt over U.S. Treasuries climbed seven basis points to 277 on Monday, according to JPMorgan Chase & Co. indexes. That compares with an average spread of 374 basis points for peers, narrowing the gap to less than 100 basis points for the first time since October 2014.

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