Deutsche gains big in Lira woe

India Business Journal - - GLOBAL WRAP-UP -

Deutsche Bank's fixed­in­come traders gen­er­ated a $35-mil­lion profit in two weeks as eco­nomic tur­moil in Turkey trig­gered a slump in as­sets across emerg­ing mar­kets. The traders, who work on a desk fo­cused on Central and Eastern Europe, the Mid­dle East and Africa, made more than $10 mil­lion on Au­gust 10, when the Turk­ish lira plunged the most in al­most two decades. The team was po­si­tioned to profit from any slump in as­sets prices. The credit team had made $45 mil­lion this year, with a quar­ter of those gains com­ing just in the past week.

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