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Articles That Matter:

Contagion Ahead?
by Geoff Garbacz

August 10, 2018

The Turkish Lira hits a new low this morning as the U.S. Dollar continues to rise. The Lira is off by 11% this morning as its President President Recep Tayyip Erdogan that the U.S. might have Dollars but we have Allah. This needs to be watched closely.

Turkish Lira

A by product of the weak dollar is bond yields in Turkey rising. Therefore, many are pressing for an interest rate rise. This is not what the European Central Bank (ECB) needed as it tries to get away from easy monetary policy.

The key question is whether the Turkish troubles can be contained or they spill over into other currency markets. Remember currency markets often cause stock market crashes.

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