Lull in U.S.-Turkey Spats Seen as a ‘Window’ for Istanbul Stocks - Bloomberg:
The sometimes strained relationship between Ankara and Washington may be enjoying a period of calm, giving Istanbul stocks “a window of opportunity” to gain in 2020, said one of Turkey’s best-performing equity fund managers.
A steady stream of negative headlines testing the alliance has stopped since Iran-U.S. tensions threatened to escalate into conflict. It seems that the crisis has been good in reducing relative risks attached to Turkey’s market, said Haydar Acun, the managing partner at Marmara Capital in Istanbul.
A series of clashes with the U.S. in recent years culminated in the fallout from Turkey’s decision to purchase a Russian missile defense system that started arriving in July. Even so, a cordial personal relationship between presidents Donald Trump and Recep Tayyip Erdogan has survived the disputes. And while plans for parts of a battery of U.S. sanctions against Turkey have progressed, the punitive measures have yet to be imposed.
The sometimes strained relationship between Ankara and Washington may be enjoying a period of calm, giving Istanbul stocks “a window of opportunity” to gain in 2020, said one of Turkey’s best-performing equity fund managers.
A steady stream of negative headlines testing the alliance has stopped since Iran-U.S. tensions threatened to escalate into conflict. It seems that the crisis has been good in reducing relative risks attached to Turkey’s market, said Haydar Acun, the managing partner at Marmara Capital in Istanbul.
A series of clashes with the U.S. in recent years culminated in the fallout from Turkey’s decision to purchase a Russian missile defense system that started arriving in July. Even so, a cordial personal relationship between presidents Donald Trump and Recep Tayyip Erdogan has survived the disputes. And while plans for parts of a battery of U.S. sanctions against Turkey have progressed, the punitive measures have yet to be imposed.
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