Market Talk: Turkısh Lıra, Bonds Weaker

The Turkish lirabonds give some early gains back on concerns over Greece as Moody's downgrades nine Greek banks. USD/TRY trades at 1.4840 from 1.4830 Thursday. Meanwhile the benchmark January 25, 2012 bond ends trade at 9.16% from 9.21% Thursday but it moves to 9.26% in Monday value-dated transactions. Analysts forecast TRY to trade between 1.47701.4890the benchmark bond to trade between 9.2%9.35%, in the short term.