ETF Trends
ETF Trends
  • Shares MSCI Turkey ETF (NYSEArca: TUR) is up 18.7% year-to-date
  • TUR is up more than 18% over just the past month as Turkish stocks have entered a bull market
  • Turkey is experiencing rising inflation, slowing growth, increased fiscal expenditures, high unemployment and a dip in export competitiveness

Once downtrodden and maligned, the iShares MSCI Turkey ETF (NYSEArca: TUR) is on fire. The lone Turkey exchange traded fund is up 18.7% year-to-date. Furthermore, TUR is up more than 18% over just the past month as Turkish stocks have entered a bull market.

Turkey has been tackling a number of economic issues. The country has been suffering an economic downturn due to greater political instability, a struggle against threats from the Islamic State and a renewed war with Kurdish militants in its southeast, reports Michelle Mark for the International Business Times.

Currently, Turkey is experiencing rising inflation, slowing growth, increased fiscal expenditures, high unemployment and a dip in export competitiveness. The economy is expected to only expand 3% this year. Obviously, TUR is shaking off some of Turkey’s economic headwinds.

“The Borsa Istanbul 100 Index rose for a third day, extending its rally to 20 percent from an almost two-year low in January, after the Federal Reserve this week scaled back forecasts for higher interest rates. The move came after policy makers in Asia and the European Central Bank boosted stimulus measures since the start of the year to shore up their economies,” reports Tugce Ozsoy for Bloomberg.

According to BlackRock data, US exchange traded product flows, which include both ETFs and exchange traded notes, show broad and regional emerging market equity-related ETPs have swelled by $2.9 billion month-to-date, their highest monthly flow since July 2014.

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