TURKEY DUMPS US TREASURIES TO DEFEND LIRA Turkey sold nearly all of its US Treasury holdings in March, cutting them from $16 billion to just $1.8 billion, according to US Treasury data. The selloff came as Ankara moved to support the lira during market turmoil triggered by the Iran war. The central bank also sold foreign currency and gold reserves to stabilize the economy. Despite the interventions, the lira remains under pressure, inflation has risen to 32.4%, and Turkish bond yields have hit record highs.(*Walter Bloomberg)