Bonds
Turkey’s Markets Are Roaring Back Thanks to a $30 Billion Wave of Cash
Finance Minister Simsek’s efforts win back investors as tough monetary policy is finally starting to pay off.
Amundi ranks Turkey as a top five holding among emerging-market local currency bonds.
Photographer: David Lombeida/BloombergThis article is for subscribers only.
Just a few months ago, Amundi SA warned investors should stay clear of Turkish bonds. Now, it’s among their favorite trades.
The $2.3 trillion money manager believes Turkey is charting a path back to economic normalcy that will supercharge its markets. It’s part of a wider transformation that’s taken place since March as skeptical investors turn bullish on the tough reforms led by a team of technocrats under President Recep Tayyip Erdogan.