Rally opens up further bond possibility for Turkey

AdobeStock_Turkey_up_575x375_09Nov2020
By Mariam Meskin
17 Feb 2021

A sustained revival of confidence in Turkish markets has caused the lira and other metrics to improve in recent days. That, market participants said, has strengthened the country's standing in international debt markets to the point where it could consider a long dated new issue, though concerns around rising US rates are simmering away in the background.

As of Thursday afternoon, the lira stood at TL6.95 to the dollar, having reached an eight month low of TL6.92 on Tuesday — cheaper than where it started 2020 before the pandemic at TL5.94, but up from the record lows of TL8.58 reached in November.

That rally, driven by ...

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