Obbligazioni valute high yield TURCHIA bond in usd e lira turca

Turkish end-2023 CPI seen at 37.17 % - central bank survey
Oggi 09:00 - RSF
ISTANBUL, May 18 (Reuters) - Turkey's central bank announced the following results on Thursday from its monthly survey of business leaders' and economists' expectations:

LATEST PREVIOUS End-2023 CPI (% change) 37.17 37.77 CPI in 12 months (% change) 29.84 31.02 End-2023 GDP (% change) 3.7 3.5 End-2023 c/a deficit ($ bln) 38.4 37.8 End-2023 lira-to-dollar rate 23.0860 23.1535 May CPI forecast (%) 2.41 Repo rate in 3 months 8.50 8.50 Repo rate in 12 months 11.11 13.75

((Reporting by Istanbul newsroom; +90 212 350 7000))
 
UPDATE 1-Turkey's dollar bonds sink, CDS rise, as post-election rout extends
17/05/2023 18:05 - RSF
(Adds CDS drop, further fall in bonds and quote)
LONDON, May 17 (Reuters) - Turkey's dollar-denominated sovereign bonds slid further on Wednesday, and the cost of insuring government debt against default rose, as the post-election market rout following President Tayyip Erdogan's strong showing extended into a third session.

The fresh declines brought the nation's dollar bonds to their lowest in at least six months, while the cost of insuring exposure to Turkey's debt via credit default swaps (CDS) rose to a seven-month high.

The selling kicked off as Turkey's main opposition party said it had filed complaints over suspected irregularities at thousands of ballot boxes in Sunday's landmark election, and as Erdogan sharpened his tone against migrants before a run-off.

"We could see CDS rise to 900 bps or above that – which is where we were trading in July last year – and if we assume that the currency would have to depreciate towards the same levels after adjustment for inflation, we talk about the lira at 30 or 31 to the dollar," said Gustavo Medeiros, head of research at Ashmore. "That is a rough approximation, but a pretty good ballpark."
After an unexpectedly strong performance in which he secured just under the 50% of the votes needed to win outright, Erdogan is in pole position to win the May 28 run-off vote.

CDS jumped 25 basis points from Tuesday's close to 682 bps, data from S&P Global Market Intelligence showed.

It was around 480 bps before the election.

The bond maturing in 2036 fell the most by Wednesday afternoon, a 3 cent drop, Tradeweb data showed.


Longer-dated issues maturing 2041 now broadly trade below the 70 cents on the dollar, a level some analysts view as distressed territory.

(Reporting by Karin Strohecker and Libby George; editing by Marc Jones and Alex Richardson)
(([email protected]; +442075427262; Reuters Messaging: [email protected]))
 
Turkey's sovereign dollar bonds slip again as post-election rout marches on
Oggi 10:48 - RSF
LONDON, May 18 (Reuters) - Turkey's sovereign dollar bonds fell nearly another 1 cent in their fourth day of a post-election losses that have pushed them to their lowest in at least six months.

Incumbent President Tayyip Erdogan's stronger-than-expected showing in Sunday's vote has rattled markets that were betting on an end to his more than two-decade rule and the unorthodox economic policies that have come to characterize it.

The 2040 bond fell by nearly one cent to trade at just over 71 cents on the dollar, Tradeweb data showed.
Many of the longer-dated issues have lost more than 12 cents since the Friday close and are trading below the 70 cent mark that analysts broadly consider the threshold for distressed territory.

Credit default swaps, which measure the cost of insuring the country's debt against default, also ticked higher by another 4 bps, to 696 basis points (bps), data from S&P Global Market Intelligence showed. They stood at around 480 bps before the election.

Erdogan will face challenger Kemal Kilicdaroglu in a May 28 runoff vote.

(Reporting By Libby George, editing by Karin Strohecker)
(([email protected]; +44 07527 061331; Reuters Messaging: [email protected]))
 

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