The 2-year government bond yields in Turkey, considered as benchmark bond yields, have surpassed 42%.
In the domestic market, investors experienced a rapid increase in benchmark bond yields while monitoring the Treasury and Finance Ministry’s bond auctions.
The 2-year government bond yields surged by 275 basis points to a level of 42.4% just before the auctions. This marked the peak levels in benchmark bond yields.
Before the re-issuance of the 2-year 6.30% fixed coupon-paying government bond and the 10-year 13.10% fixed coupon-paying government bond, the Treasury and Finance Ministry borrowed a total of 10 billion lira from market makers and the public.
Prior to the issuance of the 2-year bond, despite market makers’ bids totaling 7.41 billion lira, sales amounted to 4 billion lira. Of this bond, 3 billion lira was sold to the public.
Before the issuance of the 10-year bond, despite market makers’ bids totaling 4.65 billion lira, sales amounted to 3 billion lira. There were no sales to the public for this particular bond.