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Suna Reyent's  Instablog

Suna Reyent, CFA, started her financial career in derivatives trading at Susquehanna Investment Group. At New York Futures Exchange she developed derivatives pricing models and later moved to Worldco, LLC where she worked on building trading algorithms in equity trading. At Bear Stearns &... More
  • “Tension-Raising” Low Sovereign Rating Of Turkey

    Some time has passed since I wrote an article about the severe errors in judgment on the part of credit rating agencies, specifically relating to Turkish sovereign debt.

    One of the reasons why I decided to submit the Turkish sovereign ratings article to Seeking Alpha six months ago was that some analysts were coming out with wrong numbers and serious misinformation about Turkish economy at the time. Some claimed that Turkey needed to the tune of 150 billion dollars of external financing, numbers that had no basis in fact. 

    With such misinformation, contamination, exaggerated scaremongering as well general bias and stereotyping, there was no doubt in my mind not only about the ridiculosity of the rating agencies especially when it came to Turkey, but also about the mispricing of the Turkish sovereign debt and its concurrent undervaluation in the marketplace at the time.

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    Tags: TUR
    Jun 28 06:34 am | Link | Comment!
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