Broken BIITS: Rate Hikes Not Boosting Confidence in EM ETTFs

It was not supposed to be this way. Tuesday evening, Turkey’s central bank raised its overnight lending rate to 12% from 7.75% and more than doubled the overnight borrowing rate to 8% to 3.5%, sending the iShares MSCI Turkey ETF (NYSEArca: TUR) higher by 4.6% in after-hours trading, an uncommon...