Serdar Orman warns prolonged high US rates and market uncertainty

Federal Reserve officials left the policy rate unchanged and offered no forward guidance, prompting investors to cite rising uncertainty. Portfolio manager Serdar Orman said the Fed’s message signals that interest rates are likely to stay high for an extended period, a stance that could strain technology and artificial‑intelligence‑focused companies worldwide.

Orman noted that the decision is already affecting long‑term U.S. Treasury yields and that market participants are now turning their attention to other major central banks, especially the Bank of England and the Bank of Japan, which could deliver surprise moves.

In Turkey, the BIST 100 index slipped below the 13,500‑point level as banking shares sold off, while valuations for large holdings, banks and industrial firms appear attractive. Orman expects the Turkish lira to test the 13,000‑point mark on the index and sees continued downward pressure on the dollar. He also highlighted strong investor demand for energy‑sector IPOs, with energy, electricity infrastructure and transformer manufacturers drawing the most interest.