An excellent case study: That 16% Turkish Yield Looks
Awfully Tempting
“Ten-year Turkish
lira-denominated government bonds yield about 16.7 percent, a very long way
from, say, German bunds at 0.3 percent, or even Russian ruble bonds at 7.7
percent. If the lira stands still, or even depreciates at a modest pace, the
returns would still be substantial.”