Turkish Lira Soars With Stocks as AK Party Win Ends Deadlock - Bloomberg Business

Turkish Lira Soars With Stocks as AK Party Win Ends Deadlock - Bloomberg Business:

"Turkey’s lira surged with stocks and bonds after the political party President Recep Tayyip Erdogan co-founded swept back into office in the second parliamentary vote this year, ending months of political deadlock.
The currency jumped the most since 2008 on a closing basis against the dollar and the Borsa Istanbul 100 Index soared the most in almost two years as the government’s 10-year bonds advanced, with its yield plummeting to the lowest in more than three months. Societe Generale SA sees the lira climbing another 2.8 percent to 2.72 per dollar, its 200-day moving average, on optimism over AK Party’s win and Ecstrat Ltd., an emerging-markets consultancy, sees stocks rising as much as much as 15 percent in dollar terms.
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