Turkey dollar bonds rally after Trump says no decision on sanctions yet

19 Jul, 2019

The 2040 issue was up 1.4 cents to its highest level in two weeks, according to Tradeweb data. Turkey's five-year credit default swaps eased to 377 basis points, down 6 bps from Thursday's close, according to IHS Markit data.

"At least for now, it's safe to assume that Trump will not be in a hurry to make a final decision on imposing sanctions on Turkey due to his good relationship with President Tayyip Erdogan," said Rabobank's Piotr Matys.

Trump was speaking on Thursday following a U.S. decision to remove Ankara from the F-35 fighter jet programme after it began receiving delivery of the Russian S-400 missile defence system last week.

Copyright Reuters, 2019

Read Comments