In Janet, We Trust
TURKEY
- Forecast
13 Oct 2013
by Murat Ucer and Atilla Yesilada
Executive SummaryAfter a difficult and volatile summer, Turkish assets were among the best beneficiaries of the tapering delays and the nomination of Janet Yellen to head the Federal Reserve, but viewing this respite as permanent, would be a mistake, in our view. With almost all the low-hanging fruits gone, Turkey’s international image damaged, and the best of global liquidity wave behind us, there is a need to formulate a new narrative, composed of a tighter policy framework with a supply-side focus. But because this is not feasible at the current political juncture, which points to height...
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