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Turkey Bears Beat Retreat Amid Global Rebound, Cash From Russia

  • Credit risk falls to May low after Moscow’s cash transfer
  • Sovereign-risk premium retreats below 600 basis points
Crowds hold a huge Turkish national flag in Istanbul, Turkey.

Crowds hold a huge Turkish national flag in Istanbul, Turkey.

Photographer: Kostas Tsironis/Bloomberg
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The return of optimism to global markets is lifting one of its most troubled corners -- Turkey.