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Turkey Bulls Regroup Around Dollar-Debt as Default Risk Ebbs Bloomberg 2 hrs ago (Bloomberg) By certain measures, Turkey looks a lot like Latin America’s worst serial defaulters. But some investors including Fidelity International Ltd. and Vanguard Asset Management Ltd. are finding plenty to like. Since President Recep Tayyip Erdogan fired his market-friendly central bank governor last month, the cost of insuring Turkish sovereign debt has risen to the highest in emerging markets after Argentina. The lira nosedived and a gauge of one-year default probability jumped to a record on concern about central bank reserves, foreign borrowing needs, and a surge in coronavirus cases that imperils tourist revenue.

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