Obbligazioni valute high yield TURCHIA bond in usd e lira turca

[m.m.f]

Togli uno zero va là

...ne ho recuperato uno dei tanti comunque 24 240 2400 affari loro si arrangeranno...

"Turkish companies have 250 billions of debts in USD. (Less or more, Google it.) Maybe they dont want to buy USD, but this is not a choice. They must buy USD. This is simple fact"

...si perdona l'errore a ottobre hanno scadenze solo per 11 .
Beh,meglio che niente ...

 

[Abulico]

Moody's downgrades 20 financial institutions in Turkey

 

[Magician]

In linea teorica in Turchia non c'è solo il partito di Erdogan, ma ad oggi tutti sono rimasti in silenzio.
Un intervento del principale partito d'opposizione


Main opposition Republican People’s Party (CHP) leader Kemal Kılıçdaroğlu has criticized the ruling Justice and Development Party (AKP) of being deficient in solving current problems in Turkey, stating the CHP would “lead the democracy struggle.”

“The current economic and political environment show that the newly effective system and the president are ineffective in solving the country’s problems. The CHP will be the leader of the democracy struggle in Turkey,” Kılıçdaroğlu said in a party report.

The party’s top executive body has prepared a report to be convened to the Party Assembly to determine the future road map of the main opposition party, especially on preparations for the upcoming local elections.

Kılıçdaroğlu has written a preface to the report, underlying the social democrat party’s criticism to the recent shift in Turkey’s executive system, stating it “would further the current problems in Turkey.”

“With the June 24 elections, Turkey has shifted from a parliamentary system to a system called a ‘presidential executive system,’ which is formally seen to have some characteristics of the presidential system but a lack of checks and balance systems,” he said, calling it a “sui generis system lack of any fundamental institutions of presidential system.”

The CHP leader said the current economic and political situation in Turkey cannot be solved with the governmental understanding of President Recep Tayyip Erdoğan, “which has become concrete with [the authority to issue] presidential decree.”

“The problems of the country is not unsolvable,” Kılıçdaroğlu said.

“The solution to the problems and a bright future can be possible with a democratization program which envisages democratization. Within the framework of this program, it is compulsory that the state, economy, politics and social and societal life to be democratized,” he said.

“The CHP will continue to carry the responsibility to be the leader and the pioneer of our country’s democratization struggle with determination,” Kılıçdaroğlu said.

CHP leads democracy struggle in Turkey: CHP leader

 

[m.m.f]

Germany is said to consider offering finacial aid to Turkey (Bloomberg tv)
ISTANBUL -- The German government is considering providing emergency financial assistance to Turkey as concerns grow in Berlin that a full-blown economic crisis could destabilize the region, German and European officials said.
While the talks are at an early stage and may not result in any aid, the possibilities being discussed range from a coordinated European bailout similar to the kind deployed during the eurozone debt crisis to project-specific loans by state-controlled development banks and bilateral aid.

Sarebbe interessante sapere cosa pensano di proporre.

 

[Ventodivino]

Sarebbe interessante sapere cosa pensano di proporre.

In queste ultime settimane è il secondo leak che esce dalla Germania (quello scorso era sul fatto che giudicassero opportuna una richiesta turca all'IMF).

A me queste notizie (poi smentite) al contrario di GML non piacciono per niente.

Ricordo che nella crisi greca (che poteva essere risolta tranquillamente dall'Europa) fu la Merkel che pretese e ottenne l'intervento del FMI

 

[Ventodivino]

Banalità sull'operatività.

E' solo da alcune settimane che seguo quotidianamente le BEI in TRY.
All'inizio vedevo una stretta correlazione tra il prezzo delle stesse e il cambio.

Ora invece ho notato una buona ripresa delle quotazioni .

Es. la 10% 2022 ha avuto un minimo ferragostano (13/08) di 68 e ora invece è a 78.

Il cambio ora è a 7,35, poche settimane fa quotava 78 ma il cambio era a 5,75.

Come ve lo spiegate ?

In pratica vi siete dati una spiegazione della correlazione (a corrente alternata) tra prezzo delle BEI in TRY e cambio ?

 

[waltermasoni]

Turk Telekom Rating Lowered To 'BB-' After Sovereign Downgrade; Outlook Stable

• 28-Aug-2018 11:39 EDT

View Analyst Contact Information

• On Aug. 17, 2018, we downgraded Turkey to 'B+' from 'BB-', and assigned a
  stable outlook.
• We also revised to 'BB-' from 'BB+' our transfer and convertibility (T&C)
  assessment, which reflects our view of the likelihood that Turkey would
  restrict access to foreign exchange liquidity for Turkish companies.
• We continue to assess that our rating on Turk Telekom can exceed the
  sovereign rating by two notches, but we also cap it at the level of the
  T&C assessment on Turkey, since Turk Telekom is a nonexport company with
  over 90% of its revenues coming from the domestic market.
• We are consequently lowering our long-term rating on Turk Telekom to
  'BB-' from 'BB+'.
• Furthermore, following the substantial weakening of the Turkish lira, we
  now expect much weaker credit ratios in 2018 and 2019, and are hence
  revising our stand-alone credit profile for Turk Telekom to 'bb+' from
  'bbb-'.
• The stable outlook on Turk Telekom reflects our stable outlook on Turkey,
  and our expectation of continued solid operational performance

 

[waltermasoni]

Turkish Airline Turk Hava Yollari Downgraded To 'B+' Following Similar Action On The Sovereign; Outlook Stable

• 28-Aug-2018 04:44 EDT

View Analyst Contact Information

• On Aug. 17, 2018, we lowered our ratings on Turkey (foreign currency:
  B+/Stable/B; local currency: BB-/Stable/B).
• In our view, Turk Hava Yollari (THY) provides Turkey with an essential
  service and has strong links with the government, leading us to link our
  rating on THY to that on the sovereign.
• We are therefore lowering our rating on THY to 'B+' from 'BB-'.
• The stable outlook reflects that on our ratings on Turkey and our
  expectation that THY will post resilient earnings in 2018, as revenue
  improvements from a sustained recovery in traffic and yields will
  counterbalance higher fuel prices and capital spending.

 

[m.m.f]

Banalità sull'operatività.

E' solo da alcune settimane che seguo quotidianamente le BEI in TRY.
All'inizio vedevo una stretta correlazione tra il prezzo delle stesse e il cambio.

Ora invece ho notato una buona ripresa delle quotazioni .

Es. la 10% 2022 ha avuto un minimo ferragostano (13/08) di 68 e ora invece è a 78.

Il cambio ora è a 7,35, poche settimane fa quotava 78 ma il cambio era a 5,75.

Come ve lo spiegate ?

In pratica vi siete dati una spiegazione della correlazione (a corrente alternata) tra prezzo delle BEI in TRY e cambio ?

Probabile che piu' scende la lira piu si va pensare o a un assestamento a quel livello o a un probabile futuro rialzo.
La gente entra compra poi rimane col cerino in mano.
Oggi o ieri mi pare che la 2024 9,25 sia salita.

 

[Magician]

The comments from Moody’s are the latest to highlight the risk to Turkey’s banking sector from an ongoing currency crisis. It said the operating environment is now worse than previously expected.

The lira TRYTOM=D3 has fallen some 40 percent so far this year, hit by investor concern about President Tayyip Erdogan's grip on monetary policy and a widening rift with the United States. Investors are concerned the Turkish economy is set for a hard landing and lenders could see a spike in bad debts.

“The downgrades primarily reflect a substantial increase in the risk of a downside scenario, where a further negative shift in investor sentiment could lead to a curtailing of wholesale funding,” Moody’s said in a statement.

It lowered its “standalone baseline credit assessments” of 14 lenders by one notch, and those of four other banks by two notches. It downgraded the “corporate family ratings” of two finance companies by a notch.

For years Turkish firms have borrowed in euros and dollars, to take advantage of lower rates, but that has exposed firms to substantial currency risk.

In the next 12 months, around $77 billion (£59.7 billion) of foreign currency wholesale bonds and syndicated loans, or 41 percent of the total market funding, needs to be refinanced, Moody’s said.

Turkish banks hold around $48 billion of liquid assets in foreign currency and have around $57 billion in compulsory reserves with the central bank, Moody’s said, adding the latter would not be entirely available.

“In a downside scenario, where investor sentiment shifts, the risk of a prolonged closure of the wholesale market would lead most banks to materially deleverage, or to require external funding support from the government, or the Central Bank.”

In Berlin, a German government official said Germany is not considering providing Turkey with a financial lifeline to help it overcome its currency crisis.

A second German official told Reuters: “You can’t do much from outside but to stress that Turkey must reform itself.”

Moody's sounds more alarm over Turkey's banks, downgrades 20 firms