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Turkey’s Dollar Bonds Pick-Up as Finance Minister Vows to Restore Market Stability
March 26, 2025
Dollar bonds of Turkey rose by up to 1 point across its curve after the Finance Minister Mehmet Simsek is said to have committed to do “whatever it takes” to restore financial market stability, in a teleconference call. Officials said that the recent market turmoil after Mayor Ekrem Imamoglu’s detention, was considered to be a temporary event. Simsek added that Turkey still offered strong long-term opportunities. Besides, both the Finance Minister and Central Bank governor Fatih Karahan, pledged to maintain the broad investor-friendly policy. President Erdogan further stated, “We will never allow the gains we have made from the economy program implemented in the last two years to be harmed”. Earlier this week, the central bank’s officials held a meeting with lenders to address the market volatility caused by the mayor’s arrest.
Turkey’s 5.95% 2031s were up 0.9 points to trade at 94.75, yielding 7.07%.
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