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Turkey dollar bonds fall over US sanctions fears

Published: Updated:

Turkey's dollar-denominated sovereign bonds fell on Monday after US Treasury Secretary Steven Mnuchin said Washington was considering sanctions over Ankara's purchase of the S-400 air defense missile system from Russia.

Longer-dated bonds bore the brunt of the losses, with debt maturing in 2040 or beyond falling around 0.6 cents in the dollar, according to Tradeweb data.

In July the US removed Turkey from the F-35 fighter jet program in response to Turkey’s acquisition of Russian S-400 missiles.