Where now for 'vulnerable' Turkish assets as state of emergency declared?

"Swift resolution" limits downside

Fund managers have warned Turkish assets will face "significant negative pressure" including a threat to the country's investment grade status, in the aftermath of the attempted military coup earlier this month.

However, they are also now trying to weigh the longer-term implications of recent events, with key questions including what the President's consolidation of power means for the country's economic outlook. A faction of Turkey's military attempted to overthrow the country's President Recep Tayyip Erdogan (pictured) on 15 July, but failed within 24 hours as it did not gather adequate public support or wider military backing. Last week, Erdogan declared a three-month long state of emergency, allowing him and his cabinet to bypass parliament when drafting new laws and restrict or suspend r...