The Turkish Gambit: Deutsche Bank Traders Profit from the Financial Crisis

[kreslik.news]

Fixed-income traders from Deutsche Bank AG have earnt a $35 million profit in two weeks due to the dramatic fall in the Turkish lira (TRY) over the past few days. According to a report from Bloomberg, sighting people familiar with the matter, on August 10, 2018, the traders made more than $10 million due to the TRY plunging to levels not seen in almost two decades.

The traders at Deutsche Bank work on a desk focused on Central and Eastern Europe, the Middle East and Africa (CEEMEA). In the wake of the financial crisis in Turkey, the team was ... (read more)