2024-05-25 11:41:25 ET
Summary
- TUR has continued its outperformance into 2024.
- Fundamentally, there's been plenty of support for this rally.
- And with valuations still undemanding, there might be more to come.
Things have gone mostly according to plan since I last covered the iShares MSCI Turkey ETF ( TUR ) (see TUR: Deck Cleared, Turkish Equities Headed Higher Post-Election ), the largest and most liquid Turkish large-cap tracker fund listed in the US. To recap, following a period of unorthodox policies pre-election, we've seen a significant post-election focus on macro stabilization, led by finance minister Mehmet Simsek. As for the monetary side, the current administration, despite some reshuffling at the head of the central bank, has overseen a faster-than-expected pace of interest rate hikes, underlining its commitment to a much lower inflation target (25% by next year vs 60-70% currently)....
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TUR: Turkish Equities Offer Value Through The Volatility