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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 393.24

+1.1%

Dec 11 4:00 PM EST

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To: energyplay who wrote (14290)	2/10/2007 11:44:46 PM
From: elmatador	Read Replies (1) of 218447

Turkey's lira highest interest rates in emerging markets attract investors, but the large number of foreign buyers also makes it more vulnerable to investor mood swings. .... the lira has strengthened some 25 percent, despite a large current account deficit, slowing growth, a partial suspension of European Union entry talks, anxieties about this year's elections and persistent inflation Investors now enjoy benchmark interest rates of 17.5 percent - some of the highest in emerging markets and 4.5 points higher than in Turkey's closest rival market Brazil. "We've actually seen a pick-up of carry trade," Lehman Brothers economist Tolga Ediz said, referring to the practice of borrowing cheap currencies like the yen to invest in higher yielding currencies. ELMAT: Don't pound Japan! Pound Brazil and Turkey!

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