Turkey Rout Ends After Traders Get Over Fear of Hung Parliament
- Bonds have best rally in emerging markets in October
- Turkey votes in elections Nov. 1 for second time since June
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If bonds are any guide, the worst of Turkey’s market turmoil is over.
The country’s two-year notes have performed better than any others in emerging markets since the start of this month, while the cost of insuring against a debt default has fallen the most after Russia. The rally coincided with renewed demand for riskier assets on bets the U.S. Federal Reserve will keep interest rates near zero in 2015.