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Category: lira

Turkey’s ‘Stunning’ Rate Hike And The Folly Of Misreading Autocrats

September 24, 2020September 24, 2020

Believe it or not, Recep Tayyip Erdogan let Murat Uysal hike rates on Thursday. Turkey careened

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Meanwhile, Turkey Plays With Fire

April 22, 2020

The “or else” approach.

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Meanwhile, In Turkey…

February 3, 2020February 3, 2020

Inflation jump drives real rates further into negative territory, while Erdogan “neutralizes” nearly three-dozen of Assad’s troops.

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Eight Months After Bear Market, Erdogan Drives Real Rates Negative As Local Stocks Boom

January 16, 2020January 16, 2020

You can’t keep a “good” autocrat down.

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Erdogan Gets Another Giant Rate Cut As Turkey Virtually Wipes Out Real Rate Buffer

December 12, 2019December 12, 2019

Unlike Donald Trump, when he “asks” for something from the central bank, he gets it.

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Some Key Geopolitical Context As Turkey’s Captive Central Bank Delivers Another Big Rate Cut

October 24, 2019October 24, 2019

So much winning – for one man, anyway.

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‘We Got Everything We Wanted’: Turkish Assets Revel In Erdogan’s Easy Win Over America’s Pushover President

October 18, 2019October 18, 2019

Meanwhile, SANA said a Turkish airstrike hit a village in Ras Al-Ain

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Putin Not Convinced Erdogan Can Commit Genocide Without Accidentally Jailbreaking Insane Militants

October 11, 2019

“[I’m] not sure the [Turkish] military will be able take this under control”.

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Turkey’s Captive Central Bank Delivers Another Large Rate Cut For Erdogan

September 12, 2019September 12, 2019

It still won’t be enough for the autocrat, though.

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Turkish Lira Warily Eyes US Sanctions Threat, Erdogan Rate Cut Promises

September 9, 2019

“We’re looking at that”.

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Trump Isn’t The Only One Hoping King Dollar Will Take A Breather

August 31, 2019August 31, 2019

The sooner the better.

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Flash Crash Hits Turkish Lira As Yen Surge Bedevils Markets Yet Again

August 25, 2019August 25, 2019

Mrs. Watanabe.

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Turkey Ties Bank Reserve Requirements To Loan Growth, Lira Sinks

August 19, 2019August 19, 2019

This is expected to release nearly $3 billion in liquidity to the market, according to a statement. 

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Meanwhile, In Turkey, Erdogan Purges Central Bank, Gets $1 Billion High Five From China

August 9, 2019August 9, 2019

“Really disappointing”.

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Turkey’s Recently Decapitated Central Bank Gives Erdogan Massive Rate Cut

July 25, 2019July 25, 2019

Markets were on edge headed into today’s CBT meeting.

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Matches: Full Week Ahead Preview

July 21, 2019July 22, 2019

There are lots of matches just waiting to be struck. 

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Turkey Dodges US Sanctions Bullet As Local Stocks Head Into 2nd Bull Market Of 2019

July 18, 2019July 18, 2019

Teflon Tayyip?

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Erdogan Plays With Fire, Promises Rate Cuts As US Said Ready To Announce Sanctions In S-400 Spat

July 14, 2019July 14, 2019

“You can’t keep a good autocrat down”.

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‘This Story Is So Incredible’: Erdogan Gets His S-400s As Turkey Dares Trump To Pull Sanctions Trigger

July 12, 2019

Trump effectively blessed this in Osaka.

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‘The Leopard Never Changes Its Spots’: Turkey Given Benefit Of Doubt, But Optimists Learn Hard Lesson (Again)

July 8, 2019July 8, 2019

Any questions?

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Plunging Lira, Deutsche Bank News, Japan-Korea Spat Make For Inauspicious Start To Crucial Week

July 7, 2019July 7, 2019

None of this sets a particularly upbeat tone.

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In Epically Brazen Move, Erdogan Ousts Central Bank Governor, Reminds Everyone Who Is In Charge

July 6, 2019July 6, 2019

“[I] don’t know why Erdogan does not just take the job himself”.

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Trump Would Hate To Have To ‘Cripple’ Turkey’s Economy Over S-400 Dispute

June 19, 2019

Maybe and autocrat-to-autocrat chat at the G20 can solve it.

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Turkey Just Rolled Out Another Desperate-Sounding ‘Fix’ Ahead Of Istanbul Rerun

June 17, 2019

Expect Turkey to be back on the front burner come next week.

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Erdogan Meets The Bear

May 22, 2019May 22, 2019

And capital control whispers are getting louder.

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‘Inshallah’, You’ll Finally Understand That Turkey’s Erdogan Isn’t Backing Down On S-400 Purchase

May 19, 2019November 6, 2021

“Sooner or later.”

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Lira, Turkish Stocks Crash (Again)

May 13, 2019

Erdogan will now loot “legal reserves” to plug budget holes.

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Monthly Letter+

  • Lost At Sea

    March 11, 2023March 11, 2023

Week’s News

It’s Not A Wage-Price Spiral. It’s ‘Greedflation’!

March 23, 2023March 23, 2023

Fed Delivers Dovish Hike Amid Bank Crisis

March 22, 2023March 23, 2023

Xi, Putin Revel In Pageantry As Show Of Defiance

March 20, 2023March 22, 2023

The Swiss Killed The CoCos

March 20, 2023March 21, 2023

Book Closes On Credit Suisse After 167 Years

March 19, 2023March 20, 2023

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Monthly Letters

Lost At Sea

March 11, 2023March 11, 2023

Exiles On Main Street

February 4, 2023March 11, 2023

That’s Great, It Starts With An Earthquake

January 22, 2023February 4, 2023

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