BNY Mellon Warns of Overextended Foreign Investment in Turkish Assets Amid High Risks

The Bank of New York Mellon has cautioned that foreign investment in Turkish assets may be overextended, with investors potentially overlooking significant risks. According to Bob Savage, Head of Markets and Strategy at BNY Mellon, high borrowing costs and geopolitical tensions pose major threats. Savage highlighted potential worsening conflicts involving Iran-Israel and Russia-Ukraine. He expressed doubts about sustaining 50% interest rates and predicted a possible reversal in investments by late Q4 or early next year, possibly shifting to economies like Egypt, Nigeria, and Argentina.

(Blacknews)