Global Analysis from the European Perspective. Preparing for the world of tomorrow

Nordea Is Shorting Turkey About to ‘Spiral Out of Control’

The head of emerging markets debt management at Scandinavia’s biggest bank doesn’t mince words when it comes to the situation in Turkey. Thede Ruest is directing the $500 million he helps oversee to short Turkey, a bet that should be paying off as turmoil grips the nation of about 80 million people. “It may even spiral a little bit out of control,” Ruest at Nordea Asset Management said by phone from Copenhagen on Wednesday. Source Bloomberg

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