Turkish selloff leads broader emerging market weakness

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Turkish selloff leads broader emerging market...
 © BusinessMail 2017
By Sujata Rao

Turkish stocks and bonds fell on Monday and the lira tumbled 2.5 percent after a visa spat erupted with the United States, while broader emerging assets too felt the heat from Treasury yields near five-month highs.

Friday’s U.S. data showing an acceleration in wage growth cemented expectations of a December rate rise, lifting the dollar and U.S. yields, and making an impact across emerging markets.

MSCI’s equity index slipped 0.2 percent, snapping a five-day winning streak, while average local currency emerging bond yields were at 6.05 percent, a...


Turkish selloff leads broader emerging market weakness


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