Turkey is set to benefit after Russia was removed from emerging-market bond indexes last week following US and European Union sanctions that limited trading liquidity. The nation’s weighting in both JPMorgan Chase & Co’s flagship index and Bloomberg’s benchmark jumped the most among remaining constituents to about 4% on March 31. Turkey now ranks seventh in both gauges, with newly-issued sovereign debt among the biggest additions. The rebalancing is likely to drive inflows as more index-tracking funds seek to buy Turkey’s bonds, and that may help lower borrowing costs. The boost comes as emerging-market borrowers compete for a diminishing pool of funds after investors pulled more than $15b
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