Managed Fund Wind-Down

The Cevdet Yilmaz-led coordination board, the Capital Markets Board of Turkey and Borsa Istanbul contain the damage by sequencing liquidations and limiting disorderly block sales. This is the most likely path because Ankara has already centralized the response and has strong incentives to prevent a confidence shock before it reaches banks and households.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.