October 9, 2017 / 7:47 AM / in 15 days

Turkish dollar bonds fall due to visa spat with United States

LONDON, Oct 9 (Reuters) - Turkish dollar bonds fell on Monday across the curve after the United States and Ankara mutually scaled back visa services in a fresh sign of deteriorating relations between the NATO allies.

Prices on issues maturing in 2030 and 2036 tumbled 0.8 and 1.0 cent respectively to the lowest since mid-July, according to Tradeweb data.

Turkey’s portion of the main index for sovereign dollar bonds, the EMBI Global, widened 9 bps to its highest since end-September.

Turkish credit default swaps inched up 2 basis points to 177 bps, according to IHS Markit, a level last seen on Oct. 4.

Reporting by Sujata Rao, editing by Nigel Stephenson

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