Turkish lira plunges to the lowest level by more than two months .. And bonds are attached to it

Both the 2030 and 2034 issues fell more than a cent in dollars, according to Tradeweb data.

The lira fell about 0.5 percent against the dollar today, continuing its losses after falling more than 1 percent on Monday, the weakest level since June 19 under the weight of concerns over the impact of the Sino-US trade war and tensions in northwestern Syria.

“Investors are wary of the impact of further interest rate cuts on the lira as the currency will be the first macroeconomic indicator to react to this development,” said Nikolai Markov, economist at Pictet Asset Management.

In a related context, the Turkish lira fell about 0.5%, against the dollar on Tuesday, its weakest level since June 19 amid continuing concerns about the impact of the Sino-US trade war and tensions in northwestern Syria.

The currency hit 5.8530 lira to the dollar at 07:10 GMT, compared with 5.8250 at Monday’s close.