Turkey: Fears Overhyped
(WorldNews Turkey)

Turkey has been one of the hardest hit countries in the current liquidity pullback. While nations like the United States are still up over 14% year-to-date (SPY), Turkey (TUR) is down over 37%; the worst performing country next to Pakistan (PAK) at -34% Yoy. Take a look at TUR (in Candlesticks) Vs. USD/TRY (Purple line) since 2017: Source: Thinkorswim As you can see, almost all of the losses in the TUR ETF are derived from negative currency effects. This is not completely without reason; the core inflation rate in Turkey has risen from 8% early last year to a staggering 15% today. Government 10Y bond yields have skyrocketed from 11% in January to 18% today and the Lira has depreciated...