Doesn't Deathwing live in Turkey?
You should know. :)
Turkey is fucked what are you talking about there's no risk?
Turkey is not fucked at all if you have money, most money market funds returned upwards of 25% in USD this year. That return includes the Turkish lira's devaluation.
I haven't said there is no risk, I said the risk is as much as what HBD has. Exit times from those money market funds are like a day. If I wish, I can exit them and have all of it be in USD cash tomorrow.
Turkish forex funds are denominated in USD, and buys private sector debt that is denominated in USD, EUR etc.
If am pulling numbers from my ass, ask DW. He will confirm what I've told you so far. :)
You made some good points and I totally agree that we should not be manipulating HBD yield based on feels.
The decision to lower yield at the bottom was a weak panic move and totally unnecessary.
We should work to be more transparent about how yield will change cased on market dynamics...
Rather that just caving to cowardly market sentiment.