The market is awash with speculation that former finance minister, Mehmet Simsek, is about to return in some similar or even enhanced role as economic supremo in the next Erdogan administration. Reports suggest that the cabinet line up will be unveiled on Friday, and Simsek will be on the list. Turkish credit markets have already bought into the news, with Turkey 5Y CDS rallying back by 100bps to around 600bps from the highs after the market shock from the first round Erdogan win in the presidential elections on May 14 - he then secured a slam dunk second round run off win on May 28.
Turkey - is Simsek the answer?
Turkey - is Simsek the answer?
Turkey - is Simsek the answer?
The market is awash with speculation that former finance minister, Mehmet Simsek, is about to return in some similar or even enhanced role as economic supremo in the next Erdogan administration. Reports suggest that the cabinet line up will be unveiled on Friday, and Simsek will be on the list. Turkish credit markets have already bought into the news, with Turkey 5Y CDS rallying back by 100bps to around 600bps from the highs after the market shock from the first round Erdogan win in the presidential elections on May 14 - he then secured a slam dunk second round run off win on May 28.