Turkey Inflation Outlook in Focus After June Surprise: Chart

Turkey’s benchmark 10-year lira bonds concluded a third successive weekly drop on Friday ahead of central bank survey on inflation expectations. Yields have climbed almost 20 basis points since data earlier this month showed core inflation in June unexpectedly accelerated to approach 10 percent. Despite the inflation outlook, few analysts are forecasting a slump for bonds given that the nation’s nominal yields are the highest among emerging markets after Argentina.

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