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Category: turkey

As Turkish Banks Struggle To Meet FX Demand, Emergency Meeting Scheduled For Saturday

August 10, 2018

Get ready for capital controls.

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1 Comment on As Turkish Banks Struggle To Meet FX Demand, Emergency Meeting Scheduled For Saturday

Erdogan Explains It All In 800-Word New York Times Op-Ed

August 10, 2018August 11, 2018

“On July 15, 2016, Turkey came under attack by members of a shadowy group led by Fethullah Gulen, who leads his organization, officially described by my government as Fethullah Terrorist Organization, from a compound in rural Pennsylvania.”

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1 Comment on Erdogan Explains It All In 800-Word New York Times Op-Ed

‘This Is Not Going To End Well’: Turkey Isn’t EM’s Bellwether, But Brace For Impact Nonetheless

August 10, 2018October 16, 2021

“…markets need to be prepared for a hard landing in the economy, corporate defaults on foreign currency debt, and possible bank failures.”

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Trump Turns Turkey Dumpster Fire Into Five-Alarm Blaze With Tariffs Tweet

August 10, 2018August 10, 2018

Burn baby, burn.

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Contagion: Lira Collapse Spreads To Europe

August 10, 2018

“Smoked.”

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End Game: Lira Collapses Raising Specter Of Capital Controls, IMF Bailout

August 10, 2018August 10, 2018

After weeks spent teetering on the brink, the Turkish lira collapsed on Friday.

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‘Don’t Be Afraid At All’: In Turkey, Desperation As Currency Crisis Spirals

August 9, 2018August 9, 2018

“Don’t be afraid at all, it will all pass.”

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Turkey In Crisis: A Narrative History And An Annotated Chart

August 7, 2018

How to trigger a currency crisis in five months.

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Turkey’s Currency Train Wreck Continues As Erdogan Commands Citizens To ‘Bring Out The Dollars’

August 6, 2018August 6, 2018

“Is the lira collapse over? Doubtful.”

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Erdogan Says Turkey Will Freeze Assets Of U.S. Ministers – “If They Have Any”

August 4, 2018August 5, 2018

“We were patient until last night.”

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Turkey Roasted: Market Fears The Worst As Lira Plunges, Yields Surge Amid U.S. Sanctions

August 2, 2018

Come hell or high sanctions.

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Things Just Got Worse For Turkey As U.S. Said To Ready Sanctions, Lira Heads To No Man’s Land

August 1, 2018October 16, 2021

Erdogan isn’t going to like this.

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1 Comment on Things Just Got Worse For Turkey As U.S. Said To Ready Sanctions, Lira Heads To No Man’s Land

Turkey Will Give Up Andrew Brunson Around The Same Time Erdogan Gives Up Control Of Monetary Policy (So, Never)

July 31, 2018October 14, 2021

Meanwhile, 10Y yields in Turkey spike to record highs.

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1 Comment on Turkey Will Give Up Andrew Brunson Around The Same Time Erdogan Gives Up Control Of Monetary Policy (So, Never)

Erdogan Digs In, Says Turkey Won’t Yield To Sanctions Threats From Trump, Pence

July 29, 2018July 29, 2018

I guess we can all hope that Trump’s affinity for autocrats wins the day.

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1 Comment on Erdogan Digs In, Says Turkey Won’t Yield To Sanctions Threats From Trump, Pence

As Trump, Pence Threaten Turkey With Sanctions, It’s Time For Markets To Accept The Reality Of Erdogan

July 26, 2018October 14, 2021

Accepting idiosyncratic, country-specific risk is part and parcel of investing in emerging markets, but this has gone well beyond that.

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5 Comments on As Trump, Pence Threaten Turkey With Sanctions, It’s Time For Markets To Accept The Reality Of Erdogan

Markets Shocked – Shocked, I Tell You! – To Discover That When Erdogan Says Low Rates, Erdogan Means Low Rates

July 24, 2018July 24, 2018

Dear markets: Berat Albayrakc is not your cool son-in-law.

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1 Comment on Markets Shocked – Shocked, I Tell You! – To Discover That When Erdogan Says Low Rates, Erdogan Means Low Rates

‘Credibility Has Been Damaged’: Turkey Downgraded By Fitch As Erdogan Prepares To Commandeer Central Bank

July 13, 2018July 13, 2018

Prepare to be harangued with tales of international conspiracies from newly-minted Sultan Recep Tayyip Erdoğan. 

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2 Comments on ‘Credibility Has Been Damaged’: Turkey Downgraded By Fitch As Erdogan Prepares To Commandeer Central Bank

‘This Is Absolutely Not What We Hoped For’: Analysts Incredulous As Erdogan Puts Son-In-Law In Charge Of Turkey’s Economy

July 9, 2018July 9, 2018

“…it is not market-friendly.”

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Requiem For A Rally: 2018’s First Half In Charts

June 30, 2018July 6, 2018

Remember January?

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oil, OPEC4 Comments on Requiem For A Rally: 2018’s First Half In Charts

Overdose.

June 25, 2018June 25, 2018

“I can’t feel my face.”

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3 Comments on Overdose.

No Soup For You!

June 25, 2018June 25, 2018

Misplaced optimism. Across the board.

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Reciprocity: Full Week Ahead Preview

June 24, 2018June 25, 2018

Trade, immigration and “covfefe” – what else is there?

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In ‘Shocking’ Result, Erdogan Is Re-Elected In Turkey

June 24, 2018June 24, 2018

It’s good to be Sultan.

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Turkey Will Try (And Likely Fail) To Oust A Dictator In Hugely Important Election – So That’s Fun

June 24, 2018June 24, 2018

Good luck.

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After All That Hype.

June 15, 2018June 15, 2018

Aaand that’s the week.

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There’s A ‘Big Problem’ In Emerging Market Liquidity And Here It Is…

June 15, 2018

(Back) down the liquidity rabbit hole.

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The ‘Most Important Week Of The Year’? Full Week Ahead Preview

June 11, 2018June 11, 2018

I doubt it, but as Trump would say, “we’ll see what happens”…

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