Goldman Sachs: Rapid Increase in TL Deposits After Fund Liquidation in Turkey

Goldman Sachs assessed that following volatility in money market funds in Turkey and the fund liquidation process, there has been a rapid increase in TL deposits. According to the institution's analysis, the fund liquidation process led investors to rebalance their portfolios and accelerated the shift towards TL deposits. Goldman Sachs reported that the CBRT's gross reserves decreased by $9 billion in the week as of September 17, falling to $180 billion. This decline in reserves indicates the impact of market volatility and fund outflows on central bank reserves. Not investment advice.

📊 GS — Piyasa Yorumu

■ neutral · 55%

The news points to a rapid increase in Turkish lira deposits following fund liquidation in Turkey; this situation contains mixed signals for the banking sector in terms of liquidity and deposit costs. The direct impact on GS stock is uncertain; however, the rise in Turkish lira deposits could improve banks' funding structure. Technical indicators are weak: the price is below the 20- and 50-day moving averages, RSI at 35 is near oversold territory, and MACD is negative. In the short term, the impact of the news may be limited and the current downward trend may continue. Nevertheless, oversold conditions could trigger reaction buying, so a neutral stance is appropriate.

RSI 14

35.4

MACD

-10.69

24h Δ

-2.23%

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