JPMorgan on Turkish Economy: Limited Alpha Opportunities

US banking giant JPMorgan assessed the Turkish economy, noting that the strong credit performance over the past 12 months stemmed from overall macroeconomic trends rather than improvements in corporate fundamentals. The bank stated, “Turkish companies have limited alpha opportunities, and this segment has largely become a beta trade market.” In a released note, JPMorgan predicted a mild deterioration in banks’ credit performance in the near term but maintained a belief in the continuation of positive macro momentum.

(Blacknews)