Turkey's 2030 sovereign issue was down around 0.7 cents according to Tradeweb, trading at its lowest level since March.

The sell off was broad-based, pushing up the average yield spread of Turkish sovereign dollar bonds over US Treasuries by 6 basis points (bps) to 339 bps, also the widest level since March.

Turkish banks' dollar bonds slipped as well, as investors fear possible US fines on some of the country's lenders as Turkish gold trader Reza Zarrab prepares to stand trial in the US

Amongst the worst hit was Halkbank, whose February 2021 issue fell 0.65 cents according to Tradeweb, to trade at its lowest level since March.

Garanti Bank's September 2022 dollar bond was down 0.3 cents to its lowest since April and Vakiflar's November 2022 dollar bond was down 0.4 cents to its lowest since March.