Tumbling yields offer Turkish lira opportunities
Corporations and financial institutions could start taking advantage of buoyant demand for Euro-medium term notes in Turkish lira as investors have begun to look for a spread over the traditional triple-A rated issuers that are favoured for currency plays, MTN dealers said this week.
Turkish lira deals have been strong so far this year. Increased investor appetite for currency risk, coupled with a hunt for yield, has been behind the flow. Investors have so far avoided adding credit risk to currency risk and stuck with triple-A rated names.
The European Bank for Reconstruction
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