‘This Is A Joke’: Lira Crashes To Record Low As Market Doubts Erdogan’s Credentials As Rates Strategist

This is completely out of control.

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Into The Wild Blue Yonder.

Ok, well there were some notable headlines to start the week…

Sour Note.

Well, an eventful week ended on a sour note, which is a shame for the bulls because Thursday was a barnburner. 

It Could Have Been Worse – A Lot Worse.

The setup was terrible, with falling commodities, a downbeat Asian session, and junk jitters weighing on sentiment.

More Questions, Less Answers.

Not what I would call an “upbeat” session.

Watch The Throne.

What happens over the weekend no longer remains confined to the weekend.

Can You Feel The Tension?

Nobody strike a match.

All’s Well That Ends In An Epic Mideast Death Match.

Tension is running high on Monday…

‘Do Something!’

And that, folks, is the week.

Fireworks.

“…or what counts as ‘fireworks.'”

Trader: ‘You Don’t Always Get Something For Nothing’

“Traders like to blame all the world’s ills on central bank behavior and then scream when markets act like markets. Or their machines act like robots.”

Risks Aplenty.

And now, back to your regularly scheduled programming…

Lira Collapses Most Since Coup As Gulen Witch Hunt Triggers Diplomatic Crisis With U.S.

This of course stems directly from Erdogan’s ongoing efforts to bring arch nemesis Fethullah Gulen to “justice.” Pretty much anything that goes wrong for Erdogan gets blamed one of two things: 1) a Kurdish conspiracy, 2) a Gulen-linked conspiracy. This latest spat with Washington is no exception. 

No Market Is An Island.

Best of luck in Q4 and here’s hoping there’s a Q1 2018.

‘Believe Me.’

What could go wrong?