Turkish Stocks and Bonds Rebound as Erdogan Says Ready to Listen
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Turkish stocks rallied on bets the worst weekly retreat since 2011 was overdone as Prime Minister Recep Tayyip Erdogan said he was ready to listen to the demands of anti-government protesters. The lira strengthened for the first time in three days and bonds gained.
“Investors are buying because the prices have come to reasonable levels,” Onder Turker, a fixed-income trader at Finansbank AS in Istanbul, said in e-mailed comments. “The political risk is still there and not much has changed, but bulk flows are changing the markets’ direction.”