April 19, 2018 / 9:16 AM / a month ago

Turkish longer-dated dollar bonds extend gains after snap election called

LONDON, April 19 (Reuters) - Longer-dated Turkish sovereign dollar bonds extended gains on Thursday, with some issues hitting one-month highs after a snap election was called for June 24.

The January 2041 issue rose 0.3 cents to 93.96 cents in the dollar, the highest since mid-March, according to Tradeweb. The February 2045 bond also hit a near one-month high, gaining 0.13 cents to 99.29 cents.

Turkish five-year credit default swaps held at Thursday’s close of 195 basis points, a near two-week low, down from an intraday high of 204 bps in the previous session, according to IHS Markit. (Reporting by Claire Milhench, editing by Karin Strohecker)

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