Bonds may weaken, Barclays analyst says
Bloomberg
Lira-denominated bonds are losing their allure as the Central Banks may consider keeping its key rate unchanged at 8.75 percent after reducing it by 8 percentage points in eight months, Arko Sen, an emerging-markets rates strategist in London at Barclays Capital, said Thursday."The Central Bank ... is nearing the end of the easing cycle," he said. "Further demand from investors to buy Turkish bonds is slowing down ... and ... the fiscal situation has worsened ... If there had been an IMF program ... that would have reduced the pressure on domestic issuance," Sen said.
