Stay updated with breaking news from Jon Harrison. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
LONDON — Turkey’s government and corporate bonds and banking stocks saw a second day of selling on Tuesday amid investor expectations that President Tayyip…
Türkiye's market rout deepened on Tuesday amid investor expectations that President Recep Tayyip Erdogan will be able to extend his rule - and his unorthodox economic policies - into a third decade. Banking stocks and sovereign dollar bonds slid for a second day and the cost of insuring exposure to Turkish debt rose further after Erdogan defied expectations in Sunday's presidential race, securing just under the 50% threshold needed to win outright and giving him the lead over opposition rival, Kemal Kilicdaroglu, ahead of the May 28 runoff vote.
Read more about Turkey's market rout deepens after Erdogan's strong election showing on Devdiscourse
Signs that the US economy is slowing down and global interest rates are peaking are setting the stage for investors to revive so-called carry trades in emerging markets
"Our central scenario is for a mild US recession and a range-bound dollar, which should be supportive of the EM carry trade."