Tag Archive: USDTRL TURKISH LIRA

Turkey Plays Chicken – It Has Just Started

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Yes. We rejoice with rate hikes from Turkey because we are not Turks with mortgages. The Turkish lira jumped 3.5% instantly but bondholders aren’t really cheering except maybe the USD bonds and some… Continue reading

Ad Hoc Commentary – Turkey’s possibly futile attempt to prevent the unwinding of the USD carry trade

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“The Turkish central bank raised its overnight lending rate to 12% from 7.75%…” http://www.cnbc.com/id/101359309 Of course it stopped the rout of the Turkish Lira in the short term. By contagion, it also stabilized… Continue reading

Oh Ye Serpent, Thy Venom Doth Sting – CNY, MYR, PHP

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In the first 3 weeks of 2014 and the end of the lunar year of the Snake, over 80% of the 162 currency pairs in the world have lost out against the USD.… Continue reading

Christmas Turkey Or Turkey Sandwich ?

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Its been a Turkey sandwich year. Sandwiched between the Syrian conflict, Iran nuclear impasse and its own internal strife and riots. Its economy not flourishing as it had in the past, unemployment soaring… Continue reading