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Stock impact report

JPMorgan Blames Turkey's Volatile Lira for Investor Misgivings [Financial Post (Toronto, Ontario, Canada)]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Financial Post
Advertisement The lira's best month this year may only serve to highlight the volatility that still haunts Turkish assets. For JPMorgan Chase & Co.'s top executive in Turkey, swings in the currency remain a key hurdle to convincing investors to buy into the appeal of local securities. Markets are also on alert for how price growth, already at a two-year high, performs in the months ahead, Mustafa Bagriacik, senior country officer for Turkey and Azerbaijan for the U.S. lender, said in an interview. Advertisement Article content “The predictability of inflation and the currency are the two most important things to increase appetite for lira-based assets,” he said. “If you can fix those, the rest will follow.” The lira rose 3% against the dollar in July, bolstered by the U.S. Federal Reserve's dovish tilt and as concerns over a premature interest-rate cut in Turkey faded. That's the best performance across emerging markets, and a stark turnaround for a currency that tumble Show less Read more
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