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Bond Market News
Turkey’s Central Bank Holds Meeting to Address Potential Volatility; Dollar Bonds Trade Weaker
March 24, 2025
Turkey’s central bank officials held a “technical meeting” with lenders on Sunday to address the potential market volatility following the formal arrest of opposition politician Ekrem Imamoglu. The meeting focused on recent market developments and discussed potential coordination between banks and the central bank. This comes after Imamoglu, the popular mayor of Istanbul and considered a challenger to President Erdogan, was jailed on corruption charges. The arrest saw declines in the Turkish lira, stocks, and debt, raising concerns about a possible reversal in Turkey’s economic policies. Treasury and Finance Minister Mehmet Simsek had met with banks on Friday, reassuring them that the government would use all available tools to address what he described as “temporary” market volatility.
Turkey’s dollar bonds were trading weaker across the board, with its 5.95% 2031s down 1.1 points to 93.8, yielding 7.3%.
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