Turkey investors disregard Erdoğan’s central bank meddling

After one of Turkey’s strongest months in capital markets of the year, this weekend the country’s president shocked investors by firing the governor of Turkey’s central bank. While Turkish assets sold off sharply on Monday, they recovered during the week. But some onlookers are worried that the recovery reflects desperation for yield, not a reduction in risks to Turkey’s economy.

  • By Lewis McLellan
  • 11 Jul 2019

Murat Çetinkaya lost his job on July 6 and was replaced by his deputy, Murat Uysal. Erdoğan had clashed with Çetinkaya on several occasions over the banker’s refusal follow governmental instructions to keep interest rates low.

While no official reason was given for Çetinkaya’s dismissal, local press reported that Erdoğan said: “We ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 32,658.83 184 7.79%
2 JPMorgan 31,521.68 154 7.52%
3 HSBC 31,047.94 248 7.41%
4 Standard Chartered Bank 22,707.57 176 5.42%
5 BNP Paribas 16,549.31 90 3.95%

Bookrunners of LatAm Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 7,093.41 27 12.57%
2 JPMorgan 6,951.38 27 12.32%
3 Bank of America Merrill Lynch 4,847.42 20 8.59%
4 Santander 4,356.32 21 7.72%
5 Morgan Stanley 4,199.92 14 7.44%

Bookrunners of CEEMEA International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 15,386.09 55 11.67%
2 Citi 14,241.43 52 10.80%
3 Standard Chartered Bank 10,397.33 47 7.89%
4 BNP Paribas 8,469.15 23 6.42%
5 HSBC 8,162.62 41 6.19%

EMEA M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 JPMorgan 195.08 50 10.55%
2 Goldman Sachs 162.26 37 8.77%
3 Morgan Stanley 141.22 46 7.64%
4 Bank of America Merrill Lynch 114.20 33 6.18%
5 Citi 95.36 35 5.16%

Bookrunners of Central and Eastern Europe: Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 2,002.25 13 12.71%
2 SG Corporate & Investment Banking 1,851.18 13 11.75%
3 ING 1,381.46 11 8.77%
4 Citi 1,094.36 9 6.95%
5 MUFG 1,085.56 8 6.89%

Bookrunners of India DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Standard Chartered Bank 2,502.70 20 17.01%
2 HSBC 1,713.74 17 11.65%
3 Barclays 1,483.48 15 10.08%
4 MUFG 1,375.00 13 9.34%
5 Citi 1,279.88 16 8.70%