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Turkey Liquidated Almost All Its US Treasury Holdings in March
Bloomberg-compiled estimates show holdings fell from $16 billion to $1.8 billion as the central bank sold Treasuries, foreign exchange and gold to support the lira.
- In March, Turkey aggressively liquidated its US Treasury holdings to $1.8 billion, down from $16 billion the previous month, according to Bloomberg-compiled estimates based on official US data.
- The US-Israeli war on Iran has exacerbated economic pressure on Turkey, forcing the country to import expensive oil and gas while the lira remains under pressure as the conflict drags on.
- State lenders sold about $6 billion on Thursday to defend the lira, while The Turkish Central Bank raised its 2026 inflation target to 24 percent from 16 percent after annual inflation accelerated to 32.4 percent.
- Globally, foreign holdings of Treasuries dropped $138.4 billion from February, with the sell-off driven mainly by central banks adjusting their reserves amid broader economic pressures.
- Manuel Mondia, a portfolio manager at Aquila Asset Management, cited investor concerns over Turkey's trade deficit and political risk, as 10-year bond yields hit record highs of 35.75 percent, raising borrowing costs.
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The Turkish currency suffers massively from the consequences of the Iran war. The Turkish state banks are trying to stabilize the lira by selling bonds.
·Düsseldorf, Germany
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Coverage Details
Total News Sources13
Leaning Left2Leaning Right4Center0Last UpdatedBias Distribution67% Right
Bias Distribution
- 67% of the sources lean Right
67% Right
L 33%
R 67%
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