, Columnist
Turkey’s Banks Get Some Breathing Space
The government has managed to soothe investors’ nerves in the short term.
And breathe.
Photographer: Murat Kula/Anadolu Agency/Getty Images
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Turkey’s banks are finally catching a break as the country’s tumultuous currency crisis ebbs. But the peace may not last for long.
The additional yield, or spread, investors demand to own debt issued by Turkish lenders instead of the comparable government bond has fallen sharply from August’s record level.