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Emerging MarketsEM CEE

Turkey in the firing line as US yields vol spooks EM

Alamy_Turkey_centralbank_575x375_11March2021

Turkey's international bond market access is once again in question. Rising US Treasury yields have put affordable dollar funding beyond the sovereign for now, bankers believe, undoing the good done by a move back to orthodox monetary policy late last year, after months of inflation and a plunging lira. A rate hike next week may help restore issuance prospects, writes Mariam Meskin.

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