m.m.f
Forumer storico
Avrei timore anche da turista in una paese come quello...
Obbligazioni valute high yield TURCHIA bond in usd e lira turca
- Creatore Discussione sentex
- Data di Inizio
Avrei timore anche da turista in una paese come quello...
skarlatti
Forumer storico
io son stato una volta ad Instambul è bellissima, la gente sarebbe anche cordiale ma troppo insistente x venderti le cose.
m.m.f
Forumer storico
...anche io sono stato li ma tanti anmi fa,1988,rispetto a noi sembrava tornare indietro di 30 anni....comunque si turisticamente parlando ok sempre a chi piace il genere...
Jsvmax79
Forumer storico
Amici son stati in turchia x una decina di g e rientrati settimana scorsa. Ho chiesto le loro impressioni.Tutto super tutto tranquillo non solo nei posti da visita tradizionali. L'idea di una nazione in forte crescita...Mah... anche io 2 anni fa avevo avuto la stessa impressione. La lira stava a 3 grosso modo se non erro
m.m.f
Forumer storico
Beh per i turisti fantastica con la lira conciata come è. Vedrai il prossimo anno dopo altri 5 rialzi tassi USA come saranno conciati,allora si và in vacanza sul serio. Non fosse per quel elemento al governo magari uno ci rimane anche.
Ultima modifica:
m.m.f
Forumer storico
Anti-terror bill keeps some national emergency provisions for three more years
ha emanato un decreto nuovo anti terrorismo tanto per capire in che modo ha levato ieri lo stato di emergenza,roba da non credere.
ha emanato un decreto nuovo anti terrorismo tanto per capire in che modo ha levato ieri lo stato di emergenza,roba da non credere.
m.m.f
Forumer storico
Trump Calls Turkey's Detention of U.S. Pastor a ‘Total Disgrace’ Terms of Service Violation
waltermasoni
Caribbean Trader
Fitch Downgrades 24 Turkish Banks; Removes from Rating Watch Negative
20 JUL 2018 12:11 PM ET
Fitch Ratings-London/Frankfurt-20 July 2018: Fitch Ratings has downgraded the Long-Term Foreign Currency Issuer Default Ratings (LTFC IDRs) of 24 Turkish banks and their subsidiaries, in most cases by two notches. The agency has also downgraded the Viability Ratings (VRs) of 12 banks. The banks' Long-Term IDRs have been removed from Rating Watch Negative, but have been assigned Negative Outlooks. A full list of rating actions is available at www.fitchratings.com or at the link above.
The rating actions follow the downgrade of Turkey's sovereign rating on 13 July 2018 (see Fitch Downgrades Turkey to 'BB'; Outlook Negative at www.fitchratings.com), which was driven by increased downside risks to macroeconomic stability and the recent deterioration in economic policy credibility.
The downgrades of banks' VRs reflect the increased risks to performance, asset quality, capitalisation and liquidity and funding profiles, following the recent period of market volatility and given the increased risk of a hard landing for the economy and a material deterioration in investor sentiment. Fitch forecasts GDP growth of 4.5% in 2018, underpinned by solid growth in 4M18, but with the likely contraction of the economy for the rest of the year, and 3.6% in 2019.
The downgrades of foreign-owned banks' FC IDRs to 'BB' from 'BBB-' reflect both the sovereign downgrade and Fitch's view that it is no longer appropriate to rate banks above the sovereign in Turkey. This view reflects our belief that, in case of a marked deterioration in Turkey's external finances, the risk of government intervention in the banking sector in the form of capital controls or restrictions will increasingly be equal to that of a sovereign default.
The downgrade and revisions of most state-owned banks' FC IDRs and SRFs to 'BB-' from 'BB+' reflect both the sovereign downgrade and Fitch's view of the weaker ability of the Turkish authorities to provide support in FC given the greater potential for stress in the country's external finances. The banks' Local Currency IDRs are downgraded by one notch and remain in line with the sovereign Local Currency IDR.
When Fitch placed Turkish banks on RWN on 1 June 2018, we had said that any downgrades would likely be limited to one notch. Today, we have downgraded most banks by two notches, due to the downgrade of the sovereign rating. The two-notch downgrades of the banks include one notch for the sovereign downgrade and one notch to reflect our revised view of the appropriate levels of bank ratings relative to the sovereign.
Fitch plans to resolve the RWN on the VRs of small and mid-sized Turkish banks, and on the IDRs driven by these VRs, at a further review in 2H18. These ratings are less closely linked to the sovereign than the ratings of banks covered in this review.
20 JUL 2018 12:11 PM ET
Fitch Ratings-London/Frankfurt-20 July 2018: Fitch Ratings has downgraded the Long-Term Foreign Currency Issuer Default Ratings (LTFC IDRs) of 24 Turkish banks and their subsidiaries, in most cases by two notches. The agency has also downgraded the Viability Ratings (VRs) of 12 banks. The banks' Long-Term IDRs have been removed from Rating Watch Negative, but have been assigned Negative Outlooks. A full list of rating actions is available at www.fitchratings.com or at the link above.
The rating actions follow the downgrade of Turkey's sovereign rating on 13 July 2018 (see Fitch Downgrades Turkey to 'BB'; Outlook Negative at www.fitchratings.com), which was driven by increased downside risks to macroeconomic stability and the recent deterioration in economic policy credibility.
The downgrades of banks' VRs reflect the increased risks to performance, asset quality, capitalisation and liquidity and funding profiles, following the recent period of market volatility and given the increased risk of a hard landing for the economy and a material deterioration in investor sentiment. Fitch forecasts GDP growth of 4.5% in 2018, underpinned by solid growth in 4M18, but with the likely contraction of the economy for the rest of the year, and 3.6% in 2019.
The downgrades of foreign-owned banks' FC IDRs to 'BB' from 'BBB-' reflect both the sovereign downgrade and Fitch's view that it is no longer appropriate to rate banks above the sovereign in Turkey. This view reflects our belief that, in case of a marked deterioration in Turkey's external finances, the risk of government intervention in the banking sector in the form of capital controls or restrictions will increasingly be equal to that of a sovereign default.
The downgrade and revisions of most state-owned banks' FC IDRs and SRFs to 'BB-' from 'BB+' reflect both the sovereign downgrade and Fitch's view of the weaker ability of the Turkish authorities to provide support in FC given the greater potential for stress in the country's external finances. The banks' Local Currency IDRs are downgraded by one notch and remain in line with the sovereign Local Currency IDR.
When Fitch placed Turkish banks on RWN on 1 June 2018, we had said that any downgrades would likely be limited to one notch. Today, we have downgraded most banks by two notches, due to the downgrade of the sovereign rating. The two-notch downgrades of the banks include one notch for the sovereign downgrade and one notch to reflect our revised view of the appropriate levels of bank ratings relative to the sovereign.
Fitch plans to resolve the RWN on the VRs of small and mid-sized Turkish banks, and on the IDRs driven by these VRs, at a further review in 2H18. These ratings are less closely linked to the sovereign than the ratings of banks covered in this review.
Ventodivino
מגן ולא יראה
Stralcio JPM
Turkey: We expect the CBRT to over-deliver again and to hike rates by 125bp next week
President Erdogan’s new cabinet will have to work hard to rebuild credibility and address the economy’s deep-rooted problems. Erdogan appointed his son-in-law and former energy minister Berat Albayrak as the new treasury and finance minister, leaving less controversial figures who have implemented macroeconomic policies over the last five to 10 years out of the cabinet. Given the grave erosion of investor appetite and the vulnerabilities of the Turkish economy, the new management team does not have much time. Investors will need to see a coherent and comprehensive program to deal with Turkey’s acute and chronic problems before changing their views on the country. Although the initial comments coming from Minister Albayrak underlined the need for prudent policies and were encouraging, foreign investors are nervous and undecided and await the new government’s policy initiatives. The first real test will be the July 24 MPC decision. In particular, investors want to see if political pressure could discourage the CBRT from delivering the much needed monetary tightening.
In light of the sharp rise in price pressures and collapse in policy credibility, further monetary tightening is warranted, in our view. The hawkish tone evident in the CBRT’s inflation assessment note released two weeks ago has shown that the CBRT has acknowledged the need for further tightening. The markets have priced in a 75bp hike and we think that—as it did in its last three moves—the CBRT could over-deliver to rebuild credibility. Hence, we expect the CBRT to hike its key 1-week repo rate by 125bp to 19.0%. We do not expect a major change in the interest rate announcement. In particular, the CBRT is likely to highlight again its determination to tighten further if needed. The CBRT will also likely to keep the main policy guidance sentence unchanged and state that “Tight stance in monetary policy will be maintained decisively until inflation outlook displays a significant improvement.” These references should keep the door open to further hikes if needed.
Turkey: We expect the CBRT to over-deliver again and to hike rates by 125bp next week
President Erdogan’s new cabinet will have to work hard to rebuild credibility and address the economy’s deep-rooted problems. Erdogan appointed his son-in-law and former energy minister Berat Albayrak as the new treasury and finance minister, leaving less controversial figures who have implemented macroeconomic policies over the last five to 10 years out of the cabinet. Given the grave erosion of investor appetite and the vulnerabilities of the Turkish economy, the new management team does not have much time. Investors will need to see a coherent and comprehensive program to deal with Turkey’s acute and chronic problems before changing their views on the country. Although the initial comments coming from Minister Albayrak underlined the need for prudent policies and were encouraging, foreign investors are nervous and undecided and await the new government’s policy initiatives. The first real test will be the July 24 MPC decision. In particular, investors want to see if political pressure could discourage the CBRT from delivering the much needed monetary tightening.
In light of the sharp rise in price pressures and collapse in policy credibility, further monetary tightening is warranted, in our view. The hawkish tone evident in the CBRT’s inflation assessment note released two weeks ago has shown that the CBRT has acknowledged the need for further tightening. The markets have priced in a 75bp hike and we think that—as it did in its last three moves—the CBRT could over-deliver to rebuild credibility. Hence, we expect the CBRT to hike its key 1-week repo rate by 125bp to 19.0%. We do not expect a major change in the interest rate announcement. In particular, the CBRT is likely to highlight again its determination to tighten further if needed. The CBRT will also likely to keep the main policy guidance sentence unchanged and state that “Tight stance in monetary policy will be maintained decisively until inflation outlook displays a significant improvement.” These references should keep the door open to further hikes if needed.
Similar threads
