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By Libby George and Canan Sevgili LONDON (Reuters) -Turkey's market rout deepened on Tuesday amid investor expectations that President Tayyip Erdogan ...
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.
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Ironically, consumers are losing out in part because they already have too much money on deposit at banks
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