This week, Turkey further roiled markets by preventing foreign banks from accessing the liras they need to close out their swap positions. That’s made it almost impossible for bankers to short the lira or exit carry trades, and forced the overnight lira rate up to about 1,000 percent from 23 percent. And the USDTRY overnight forward implied … Continue reading Trouble In Turkey! Lending And Swap Rates Soar As Turkey Continues Monetary Repression →
The post Trouble In Turkey! Lending And Swap Rates Soar was originally published at The Wall Street Examiner. Follow the money!