Bond Market Corner Wants No Part of Euphoria Over Erdogan U-Turn

With a loss of about 11%, the government’s lira bonds have been the worst performer across emerging markets since Erdogan said last week his country will lean on monetary tightening to rein in price pressures.

A local debt market that was once a big draw for foreigners has all but fallen off the international investor radar, with non-resident holdings now at just over $1 billion, down from a peak of more than $70 billion they reached a decade earlier.Investors aren’t rushing in as they expect a further surge in yields.

The lira’s relative stability against the dollar since July has resulted in its appreciation versus the euro, a setback for the $900 billion economy given the euro area is the nation’s biggest export market, said Charlie Robertson, the London-based head of macro strategy at FIM Partners UK Ltd. “I doubt anyone in the market will be convinced that this leopard has changed his spots,” said Robertson at FIM Partners.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Navigating market uncertainty with bond ETFsHigher oil prices, a potentially weakening consumer, and uncertainty around the Federal Reserve's interest rate path has investors on edge. VanEck Head of Fixed Income ETF Portfolio Management Fran Rodilosso tells Rachelle Akuffo how bond ETFs can help investors navigate uncertain times. Rodilosso also explains some of the current benefits of investing in ETFs, saying 'investors really have a lot of choice. What we think right now is there are a lot of ETFs that offer opportunities where the yield is, either in credit or at the front end of the curve, be it through high quality corporate credit, CLOs or even bills.'
Fuente: YahooFinanceCA - 🏆 47. / 63 Leer más »

The Bond Market Has Never Sounded Recession Alarms for This LongThe US bond market hasn’t flashed recession warnings so consistently for so long in at least six decades.
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »

Euro Junk Bond Market Suffers First Pulled Deal in Nearly a YearEurope’s rejuvenated junk debt market just had a wake-up call, with the first shelved offering in almost a year.
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »