Economics
Old Fears May Haunt Turkish Market After ‘Complacent’ Year
- U.S. election, Turkish central bank top trader list of worries
- Aggressive rate cuts helped boost Turkish assets since July
Pedestrians check rates displayed at a foreign exchange bureau in Istanbul.
Photographer: Kerem Uzel/BloombergThis article is for subscribers only.
Despite a rough first half, 2019 has been good to those trading Turkey. Now, money managers and strategists say next year may bring back concerns that the market has grown complacent about.
Aggressive rate cuts by the country’s central bank and improved appetite for risk assets proved powerful tailwinds that buoyed all Turkish assets, especially equities, in the latter half of this year. Investors may face a rockier path in 2020.