Turkey's 2026 dollar-denominated issue fell 1.6 cents in the dollar, according to Refinitiv data.

Meanwhile five-year credit default swaps jumped 11 basis points (bps) from Wednesday's close to 483 bps, similar levels to the run up to local elections at the end of March, according to IHS Markit.

Turkey's currency fell beyond 6.24 against the dollar on Thursday, reaching its lowest level in eight months.