Turkish bonds and the Lira are weaker

Turkish bonds and the Lira are weaker, tracking losses in the opening of major European bourses. USD/TRY trades at 1.7640 from 1.7420 Wednesday; while the benchmark November 3, 2010 bond trades at 15.14% from 15.05% Wednesday. Analysts say USD/TRY falling below 1.7000 is not likely before the local elections March 29. They expect TRY to trade between 1.7410 and 1.7830, and the benchmark bond between 15.1% and 15.25% in the short term.