Market Talk: Turkısh Lıra, Bonds Stronger

The Turkish lirabonds are stronger after the country's top court announced late Wednesday that it partly approved a constitutional reform package, paving the way for a referendum. Analysts say the verdict eliminates the possibility of an early election. USD/TRY trades at 1.5520 from 1.5580 Wednesday while the benchmark Jan. 25, 2012 bond trades at 8.37% from 8.45% Wednesday. Analysts forecast TRY to trade between 1.55001.5620the benchmark bond to trade between 8.30% and
8.50%, in the short term.
(SB-SB-ENG)