Halister News

(Bloomberg) -- Favors Turkish lira govt bonds maturing in 2023, London-based strategist Luis Costa writes in an e-mailed note dated Monday.

• Adds “0.5% TURKGB cash overweight” to model portfolio
• Closes remaining short TRY/ZAR position, booking 13% profit, and takes short TRY position “back to neutral”
• Central bank “has been forced into a more prudent line of monetary policy,” and may be “right in the middle” of a revision to its interest rate policy
  • Cites increase to weighted average cost of funding since late December; the bank may opt for “further tweaks on its funding channels mix”
• READ: Turkey Seen Raising Rates After ‘Backdoor’ Moves to Bolster Lira