In the wake of the iShares MSCI Brazil Capped ETF (NYSE: EWZ) being stung by Standard & Poor's stripping Brazil of its investment-grade credit rating, financial market participants, as they so often do, are wondering what country could be next to draw the ire of a major ratings agency.
As some recent media reports suggest, the emerging markets patch has plenty of candidates that could suffer ratings downgrades, including Turkey. If EWZ is an accurate guide, the iShares MSCI Turkey ETF (NYSE: TUR) probably will not react favorably to Turkey suffering a credit downgrade.
As it is, TUR, the lone dedicated Turkey ETF, is down 35.6 percent year-to-date and resides at its lowest levels since the second quarter of 2009 as traders long ago pinned ...
/www.benzinga.com/news/15/09/5834560/turkey-etf-could-be-next-to-be-stung-by-credit-downgrade alt=Turkey ETF Could Be Next To Be Stung By Credit Downgrade>Full story available on Benzinga.com
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