Categories Business Company & Industry Finance HIGHLIGHTS TUPRS: Outperform Maintained Cem CetingucPosted on4 April, 2022 Recovery in cracks gains pace led by mid-distillates… On the back of post-pandemic recovery in … Continue ReadingTUPRS: Outperform Maintained
Categories Finance HIGHLIGHTS Markets Andrew Knoll: Turkey’s lira under pressure in the face of inflation, risks Atilla YeşiladaPosted on23 March, 2022 In the face of spiralling inflation and a host of other concerns, both in its … Continue ReadingAndrew Knoll: Turkey’s lira under pressure in the face of inflation, risks
Categories Economy Finance General HIGHLIGHTS Macro Snapshot: Consumer Confidence Index Cem CetingucPosted on23 March, 2022 CCI increased by 1.9% to 72.5 in March (February: 71.2, -2.8% MoM). Despite there was … Continue ReadingMacro Snapshot: Consumer Confidence Index
Categories Economy Finance HIGHLIGHTS Turkey Central Bank, sorry, Erdogan leaves policy rate unchanged, currency under pressure again Atilla YeşiladaPosted on17 March, 2022 The Central Bank of the Republic of Turkey has decided to hold interest rates at … Continue ReadingTurkey Central Bank, sorry, Erdogan leaves policy rate unchanged, currency under pressure again
Categories Economy Finance General HIGHLIGHTS Y.F. Macro Focus: CBRT’s advance dividend and reserve funds supported budget Cem CetingucPosted on15 March, 2022 In February, budget gave a surplus of TRY69.7bn (Feb.21: TRY-23.2bn, Jan.22: TRY+30bn). Despite, there was no … Continue ReadingY.F. Macro Focus: CBRT’s advance dividend and reserve funds supported budget
Categories Finance General HIGHLIGHTS Tim Ash: The West should provide financial support to Turkey Atilla YeşiladaPosted on15 March, 2022 It is pretty clear that Russia will, and indeed is, using Turkey, and particularly its … Continue ReadingTim Ash: The West should provide financial support to Turkey
Categories Finance HIGHLIGHTS Markets Turkish Lira: Is another crash in the making? Atilla YeşiladaPosted on9 March, 2022 The Turkish lira declined for a seventh straight day on Wednesday, bringing its losses to … Continue ReadingTurkish Lira: Is another crash in the making?
Categories Economy Finance HIGHLIGHTS Lira Drops After State Bank Interventions Fail to Contain Risks Güldem AtabayPosted on24 February, 2022 Turkey’s lira is headed for its biggest weekly drop since the start of the year, … Continue ReadingLira Drops After State Bank Interventions Fail to Contain Risks
Categories Finance HYPED Markets Turkish Lira: Despite Central Bank intervention, TL is closing the day down Atilla YeşiladaPosted on24 February, 2022 At Turkish time 6 pm, dollar/TL was trading at 14.20-21, despite what Bloomberg News claimed … Continue ReadingTurkish Lira: Despite Central Bank intervention, TL is closing the day down
Categories Finance HIGHLIGHTS Turkish Lira: From peg to managed float? Atilla YeşiladaPosted on23 February, 2022 The Turkish lira weakened as much as 3% against the dollar on Tuesday and Wednesday … Continue ReadingTurkish Lira: From peg to managed float?
Categories Emerging Markets Finance HIGHLIGHTS Macro Thoughts: February 2022 – Shades of 2006-2008? Atilla YeşiladaPosted on20 February, 2022 Similar to what happened in 2006-2008, a compelling investment narrative based on fundamental truths and … Continue ReadingMacro Thoughts: February 2022 – Shades of 2006-2008?
Categories Economy Finance HIGHLIGHTS Markets Two Fed officials back steady rise in interest rates starting in March Cem CetingucPosted on19 February, 2022 Two top Federal Reserve officials said the US central bank should launch a steady string … Continue ReadingTwo Fed officials back steady rise in interest rates starting in March
Categories Economy Finance General HIGHLIGHTS Investors brace for central banks’ retreat from bond markets Cem CetingucPosted on19 February, 2022 The biggest buyers in bond markets are now poised to become sellers, as central banks … Continue ReadingInvestors brace for central banks’ retreat from bond markets
Categories Economy Finance HIGHLIGHTS Turkish central bank leaves interest rates unchanged, TL remains vulnerable Güldem AtabayPosted on17 February, 2022 As widely expected, Turkish central bank (CBRT) kept its policy rate unchanged at 14%. The … Continue ReadingTurkish central bank leaves interest rates unchanged, TL remains vulnerable
Categories Business Finance HIGHLIGHTS UPDATE (Expensive borrowing): Turkey Treasury raises $3 bn with 5-year sukuk Atilla YeşiladaPosted on17 February, 202220 February, 2022 Turkey’s Ministry of Finance completed a US3 billion dollar-denominated sukuk deal, its first international bond … Continue ReadingUPDATE (Expensive borrowing): Turkey Treasury raises $3 bn with 5-year sukuk
Categories Finance HIGHLIGHTS Erdoğan-led Turkey Wealth Fund injects 21.8 billion liras into Ziraat Bank Güldem AtabayPosted on16 February, 2022 The capital of Turkey’s Ziraat Bank will be raised to 34.9 billion liras ($2.57 billion) according … Continue ReadingErdoğan-led Turkey Wealth Fund injects 21.8 billion liras into Ziraat Bank
Categories Business Company & Industry Finance DO & CO | Buy: Powering up for take-off Cem CetingucPosted on16 February, 2022 A sustained recovery now looks more achievable: Since the COVID-19 outbreak, the recovery trend across … Continue ReadingDO & CO | Buy: Powering up for take-off
Categories Finance HIGHLIGHTS Oil rally could depress TL to $20 vs dollar Atilla YeşiladaPosted on14 February, 2022 Since the beginning of January, dollar/TL exchange rate has been “stuck” at a very narrow … Continue ReadingOil rally could depress TL to $20 vs dollar
Categories Finance HIGHLIGHTS Fitch attacks at midnight Atilla YeşiladaPosted on12 February, 2022 Fitch Ratings has downgraded Turkey’s Long-Term Foreign Currency Issuer Default Rating (IDR) to ‘B+’ from … Continue ReadingFitch attacks at midnight
Categories Emerging Markets Finance HIGHLIGHTS Fed Interest Rate Hikes Will Hurt Turkish Economy (And Other Emerging Markets) Badly Atilla YeşiladaPosted on11 February, 2022 American Central Bank Fed will start raising its interest rates by March. It will also … Continue ReadingFed Interest Rate Hikes Will Hurt Turkish Economy (And Other Emerging Markets) Badly
