Editor Pick – TRY Exposure
According to Deutsche Bank* the TRY has room for strengthening.
The new report bases its results on a number of indicators that capture leveraged and institutional positioning in TRY denominated assets, as well as on balance sheet data of Turkish households, corporates and the banking sector.
The near-term view on the TRY expressed by Deutsche Bank is “moderately positive.” They argue that “positioning corrections may occur in the near term, but they will be smaller in size and shorter in timing compared to most of the previous corrections and notably the one seen in Q2 last year”.
*Deutsche Bank: Turkey Local Markets Report, 23 February 2007
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