Turkey Bears Resurface as Failed Coup Squelches Rebound: Chart

Bearish bets on the iShares MSCI Turkey ETF have jumped to a three-month high after the weekend’s failed coup attempt. About 16 percent of the shares were sold short as of July 19, data compiled by Bloomberg and Markit Ltd. show. Short interest had retreated from a record high in March as optimism about President Recep Tayyip Erdogan’s move to improve relations with Russia and Israel helped fuel a gain of as much as 20 percent in the country’s benchmark index, after a 16 percent drop in 2015.

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