|Bid||21.75 x 800|
|Ask||22.25 x 1100|
|Day's Range||21.78 - 22.15|
|52 Week Range||17.72 - 29.42|
|PE Ratio (TTM)||N/A|
|YTD Daily Total Return||-21.96%|
|Beta (5Y Monthly)||1.19|
|Expense Ratio (net)||0.59%|
The Turkish lira hit its lowest level against the U.S. dollar on record, as investors bet that the economic pain from COVID-19 exerted on the emerging economy may be too severe for its central bank to ease. At last check, the Turkish lira was off 0.8% against the dollar, changing hands at 7.2428. The currency has fallen 2.2% so far this week and 17.24% in the year to date against the greenback, FactSet data show. The currency breached a level in intraday action at 7.2362 that represents its lowest against the dollar since 2018, which had been its previous nadir. The country's finance minster, Berat Albayrak, son-in-law of the Turkish President Recep Tayyip Erdogan, has insisted that the country will rebound and rejected a report from the International Monetary Fund that it is likely to fall into a deep economic recession, the Financial Times reported, citing people familiar. The Wall Street Journal reported that Turkey entered the pandemic already in a weakened state, with high inflation and anemic growth. Meanwhile, the exchange-traded iShares MSCI Turkey ETF , which gives investors exposure to the country, was down 2.2% this week so far and 30.2% thus far in 2020, according to FactSet data.
COVID-19 turned into a global pandemic because this novel coronavirus could spread weeks without detection. There are several data points that indicate that 20-50% of all coronavirus infections are asymptomatic. Almost all countries are merely reacting to the virus rather than proactively working on preventing its spread. Turkey is one of these countries. It is as […]
In the East, the veteran strongman is fighting Syrian/Russian forces to keep millions of refugees out of Turkey. In the West, he’s trying to disgorge some of the millions of refugees he already hosts onto a reluctant (to say the least) European Union. Ten-year sovereign local-currency bond yields have jumped nearly two percentage points over the past month to 11.3%.
A Turkey country-specific ETF was among the top performers on Wednesday as geopolitical risks across two of its neighboring countries begin to fade. Among the top performing non-leveraged ETFs of Wednesday, the iShares MSCI Turkey ETF (TUR) increased 2.9%. Turkey's was particularly vulnerable to volatile moves associated with geopolitical risk in Middle East as the country is a neighbor of both Iraq and Iran, and it has close political ties to Tehran, especially as the two countries alongside Russia try to find a solution to the ongoing civil war in Syria.
The Turkey country-specific ETF was among the worst hit Friday on growing fears of an increasingly bellicose neighbor after a U.S. airstrike killed a top Iranian commander. Turkish stocks retreated and state-run banks even had to step in to support the weakening lira currency after a United States airstrike killed Major General Qassem Soleimani in Iraq, AhvalNews reports. Turkey was particularly susceptible to volatile moves on Friday as the country is a neighbor of Iran and has close political ties to Middle Eastern country, especially as the two countries alongside Russia try to find a solution to the ongoing civil war in Syria.
Turkey has been on the headlines for back-to-back massive rate cuts. But with inflation poised to shoot up in late 2019, the rally in Turkey ETF could halt.
The Turkey-related ETF has been enjoying a strong rally in recent weeks as more adventurous investors showed increased interest in riskier areas of the global markets to find opportunities. Turkish stocks jumped and touched a 19-month high this week, and analysts anticipate the rally will maintain its momentum in the short-term, Daily Sabah reports. According to analysts, President Recep Tayyip Erdoğan's White House meeting with President Donald Trump last week, along with the opening of dialogue between Turkey and the U.S., could help dispel uncertainty over Turkish lira assets for the remaining part of the year after a period of political-induced risk-off selling.
According to the American Farm Bureau Federation survey, the average cost of a Thanksgiving dinner for 10 people will cost $48.91, which is only 1 penny more than last year. American Farm Bureau Federation Chief Economist John Newton joins Yahoo Finance's Zack Guzman and Kristin Myers, along with Payne Capital Management Financial Advisor Courtney Dominguez, to discuss.
The Turkey-related ETF rallied Wednesday after President Donald Trump said the United States will lift sanctions on the country in response to Ankara's decision to make the cease-fire along the border with Syria "permanent". The iShares MSCI Turkey ETF (TUR) increased 3.8% on Wednesday and broke back above its short- and long-term trend lines at the 50- and 200-day simple moving averages, respectively. The Trump administration previously announced sanctions on October 14 after the Turkish military pushed an offensive against Krudish forces into northern Syria, the Washington Post reports.
Donald Trump on Oct. 23 ordered the lifting of U.S. sanctions against three senior Turkish government officials and two ministries in response to Turkey's five-day ceasefire along the northern Syrian border. ...
The Turkey country-specific ETF jumped Thursday after Ankara agreed on a ceasefire in northern Syria to allow Kurdish forces to retreat from the region. "Today the United States and Turkey have agreed to a ceasefire in Syria," US Vice-President Mike Pence told a news conference after more than four hours of talks at the presidential palace in Ankara, Reuters reports.
Investing.com – Turkish assets rose Thursday after Turkish President Recep Tayyip Erdogan agreed to a five-day ceasefire in Syria following a meeting with U.S. Vice President Mike Pence and Secretary of State Mike Pompeo.
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.
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.
We highlight four top-performing country ETFs that beat the market in the last quarter. Any of these could be excellent plays for investors seeking to ride out the current market concerns.
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.