Turkey Bulls Bet a Rate Hike Will Make Lira Carry Hard to Resist msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Resilience Test Awaits Emerging Markets Unnerved by Treasuries
By
January 10, 2021
(Bloomberg) Emerging-market equities are on fire, yet caution is creeping into other risk assets as rising U.S. Treasury yields keep investors on edge.
While the prospect of more U.S. stimulus drove MSCI Inc.’s gauge of developing-nation shares to a record on Friday, dollar bonds posted their first weekly decline since October as the yield on the benchmark 10-year Treasury note rose above 1%. Even the momentum that lifted emerging-market currencies to an all-time high faded toward the end of last week as the U.S. dollar strengthened.
Turkey’s Year of Drama Hands Investors These 2021 Priorities
Bloomberg 12/17/2020 Tugce Ozsoy and Inci Ozbek
(Bloomberg) It has been a tumultuous year in virus-ravaged global markets, but investors in Turkey have had more drama to cope with than most.
The lira’s plunge was the steepest in emerging markets after the Argentine peso and regulators caused investor unease with market interventions, including curbs on short selling, that helped to spur record outflows. Geopolitical risks were plentiful too, through Turkey’s stance on eastern Mediterranean energy exploration, and on the conflicts in Syria, Libya and between Armenia and Azerbaijan, and its purchase of a Russian air defense system.