|Bid||22.96 x 1000|
|Ask||22.98 x 1100|
|Day's Range||22.81 - 23.08|
|52 Week Range||20.13 - 29.10|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||0.91%|
|Beta (3Y Monthly)||1.36|
|Expense Ratio (net)||0.59%|
Investing.com – The lira and Turkish assets tumbled Friday after U.S. Treasury Secretary Mnuchin said U.S. President Donald Trump had authorized the Treasury Department to draw “very significant” new sanctions on Turkey
Turkey country-specific ETF could continue to weaken as the country’s military actions into Syria persist if U.S. congressional leaders enact sanctions that would further weaken the lira currency and drag on the developing economy.
Turkey country-specific ETF could continue to weaken as the country's military actions into Syria persist if U.S. congressional leaders enact sanctions that would further weaken the lira currency and drag on the developing economy. The iShares MSCI Turkey ETF (TUR) was flat Thursday after breaking below its long-term support at the 200-day simple moving average in the previous session. The lira currency, which previously suffered through a crisis a year ago partly as a result of U.S. sanctions and tariffs, dipped to its weakest level in almost four months after Ankara ordered attacks on Kurdish forces in northeast Syria, Reuters reports.
Since Monday’s trading session, the iShares MSCI Turkey ETF (TUR) has fallen 7% as the country begins to mobilize its armed forces in preparation for a military operation in Northern Syria. “Turkish Armed Forces together with the Syrian National Army against PKK / YPG and Deash terrorist organizations in northern Syria has started,” Erdogan wrote on Twitter. “Our aim is to destroy the terror corridor which is trying to be established on our southern border and to bring peace and peace to the region,” Erdogan tweeted.
President Donald Trump on Wednesday said the U.S. did not endorse Turkey's military operation in northern Syria, a move he called a "bad idea." Trump's decision to withdraw U.S. troops from Syria has been met with bipartisan criticism. The president threatened Monday to "totally destroy and obliterate" Turkey's economy if it took what he considered to be "off limits" actions. The iShares MSCI Turkey ETF was down 2.55%, following the beginning of the Turkish military offensive.
A Turkey-focused exchange-traded fund was trading sharply lower Wednesday as Turkish President Recep Tayyip Erdogan kicked off a military offensive in Syria. The iShares MSCI Turkey ETF was down 1.8% in Wednesday trading and was on track to decline for three consecutive sessions, which would mark its longest losing skid since the five-session period ended Aug. 22, according to FactSet data. Turkey had long threatened an attack on the Kurdish fighters whom Ankara considers to terrorists.President Donald Trump agreed to withdraw U.S. troops from Syria and hand control to Turkey, leaving Syrian Kurds who helped the U.S. in a fight against Islamic State, vulnerable to Turkish attack. Meanwhile, Turkey's lira was down 0.5% against the U.S. dollar. The dollar last bought 5.8562, compared with 5.8317 lira late Tuesday in New York. --with Associated Press
The Turkey country-specific ETF plummeted Monday after Ankara announced an “air and ground military operation” into Syria and President Donald Trump threatened to “totally destroy and obliterate” Turkey’s economy if it took action considered to be “off-limits.”
President Recep Tayyip Erdogan has said Turkey will undergo an "air and ground military operation" east of the Euphrates River, Aljazeera reports. The operation aims to clear what Turkey considers "terrorists" from the border region.
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A Turkey country-specific exchange traded fund surged on huge volumes Friday as the emerging market gained renewed interest from international buyers and rallied on optimism over bank reforms. A bank analyst told Reuters that two funds bought large positions in the Turkish financial sector but did not identify them, adding that the decline interest rates contributed to the optimism. Turkey's lira currency also strengthened on signs that the central bank front-loaded interest rate cuts and that tensions with Washington were easing, Reuters reports.
The Next 11 or N-11–sounds like a science fiction movie sequel or a bigger-than-necessary boy band, but in fact, it represents the next 11 emerging economies dubbed by global investment firm Goldman Sachs. ...
For a few days there, it looked like Argentina might start a trend toward emerging market financial meltdowns. Turkey’s currency, the lira, plunged 3% against the dollar on Aug. 19 and 20. “I would strongly emphasize that the best of Turkey’s recovery is over,” says Aaron Hurd, senior currency portfolio manager at State Street Global Advisors.
Spanish, Portuguese Bonds Near 0% Yield Inverted yield curves, record amounts of debt yielding negative rates, and countries only a few years ago on the verge of bankruptcy yielding next to nothing. These are the signs of the beginning of a possible manic bubble phase of a nearly 40 year bond bull market now in […]The post Market Morning: Bond Bubble Reaches New Heights, Turkey Jails Mayors, Iran US Tanker Face Off, appeared first on Market Exclusive.
President Tayyip Erdogan did no favors for Turkey investors after canning the country’s central bank chief over the weekend in order to install his own deputy as a replacement. The latest move sent the country's stock market index down 1% and its local currency, the lira, down 1.5%. “I wouldn’t say it’s a complete shock but it is definitely a surprise because it looked like the central bank was already on its way to cutting rates,” said Pictet Asset Management portfolio manager Guido Chamorro.
A Turkey country-specific exchange traded fund was among the worst hit on Monday as investors dumped Turkish assets after President Recep Tayyip Erdogan sacked the country’s central bank governor. The ...
In an effort to reignite investor interest in Turkey debt, the country will offer a dollar-denominated bond to the international fixed income market. To facilitate this offering, the country hired BNP Paribas, Citigroup and HSBC to sell a dollar-denominated bond that will mature in 2024, according to the Ministry of Treasury and Finance. "Turkey’s international bond announcement attracted a lot of attention this morning, with many observers raising a logical question about the use of proceeds (in light of the recent currency interventions)," wrote VanEck economist Natalie Gurushina.
The controversial, much-maligned iShares MSCI Turkey ETF (TUR) is up more than 11% this month even as currency market observers fret about the strength of the lira. Last summer, low interest rate levels, high inflation and geopolitical tensions weighed heavily on Turkey’s economy. In addition, U.S.President Donald Trump imposed sanctions on Turkey’s interior and justice ministers for their role in the internment of U.S. pastor Andrew Brunson as well as other Americans for terrorism.
It has been another brutal year for investors in the iShares MSCI Turkey ETF (NASDAQ: TUR). TUR is lower by more than 13 percent just this month and some market observers are concerned more pressure could be coming on the often embattled Turkish lira, which has historically spelled trouble for TUR and Turkish stocks. “The Turkish lira is on the verge of a crisis that would surpass what was experienced in August-September 2018,” said IHS Markit in a recent note.
The U.S. plans to not renew Iran oil import waivers previously granted for a few countries, sending oil prices shooting up. A few country ETFs will gain and some will lose from the move.