Turkish Assets Rebound as Simsek Vows to Restore Stability
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Turkish bonds and stocks rebounded as top economic officials sought to reassure foreign investors about last week’s detention of Istanbul Mayor Ekrem Imamoglu, a move that triggered billions of dollars in outflows.
Finance Minister Mehmet Simsek promised to do “whatever it takes” to stabilize financial markets, according to people who joined a teleconference organized by Citigroup Inc. and Deutsche Bank. Officials described the recent market turmoil as a temporary event, they said.