July 24, 2018 / 11:26 AM / 24 days ago

Turkey dollar bonds hit as central bank shies away from rate hike

LONDON, July 24 (Reuters) - Turkey’s dollar-denominated government bonds fell sharply on Tuesday, after the country’s central bank kept its interest rates on hold rather than hiking them as analysts had expected.

There was selling across the whole range of bond maturities. The 2030 issue fell as much as 2 cents, while 2034-2043 issues dropped between 1.6 and 1.9 cents. .

The Turkish lira and equities also sold off following the decision, while local 10-year bond yields rose around 100 basis points. (Reporting by Marc Jones; editing by Sujata Rao)

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