The iShares MSCI Turkey ETF (NYSE: TUR) was trading modestly higher Friday and while those gains can be measured in mere pennies, they are enough to keep the lone Turkey exchange traded fund from making another multi-year low.
Turkey has long been mentioned as one of the emerging markets most vulnerable to shifts in the Federal Reserve's interest rate policy. No change in that policy has become official as of yet, but markets see a rate hike as imminent and have treated TUR as such. The ETF has tumbled almost 26 percent this year and now resides near 3 1/2-year lows.
BlackRock Global Chief Investment Strategist Russ Koesterich recently highlighted Poland and Turkey as two the emerging markets most vulnerable to rising U.S. interest rates.
“The MSCI Poland Index has consistently underperformed the broader MSCI EM benchmark over ...
/www.benzinga.com/trading-ideas/long-ideas/15/08/5767450/the-turkey-etf-is-well-a-turkey alt=The Turkey ETF Is, Well, A Turkey>Full story available on Benzinga.com
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