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Turkey At Risk Of Hyperinflation As CPI Soars To 14-Year High

Turkey’s currency is being battered from all sides at the moment. In October 2017, the Lira fell sharply after both countries suspended bilateral visa processing in the latest US/Turkey diplomatic spat (although this was reversed in early November). Two weeks ago, it fell to a record low of 3.97 to the dollar, prompting the central […]

Turkish Lira, Bonds Plunge After Erdogan Tells Central Bank “It’s On The Wrong Path”

Turkish lira plunged near record low 3.9/USD this morning and bond yields spiked over 12.5% for the first time in history as investor anxiety escalated following President Erdogan's attack on the nation's central bank, decrying it's "wrong path." Currency crisis… And bond market panic… As Bloomberg reports, Turkish President Recep Tayyip Erdogan signaled an end […]

Lira Spikes After US Resumes Turkish Visa Processing

Having plunged several weeks ago following the latest diplomatic spat between Turkey and the US, in which the two countries’ consulates announced they had halted bilateral visa processing services, the Turkish Lira spiked moments ago on a Reuters report whiuch suggests diplomacy may be slowly returning to US-Turkish relations: U.S. SAID PLANNING LIMITED REINSTATEMENT OF […]

Lira Tumbles After US Reportedly Refuses Visa For Turkish Minister Delegation

The Lira is down over 1% following Bloomberg reports from CNN TURK that Washington has declined to issue a visa to a delegation from Turkey's Justice Ministry. #SONDAK?KA: ABD, Türk Adalet Bakanl??? heyetine vize vermedi https://t.co/9pfeJqDSQD pic.twitter.com/PFlSjgxszn — CNN Türk (@cnnturk) October 24, 2017 There was a last-minute development in visa tensions between Turkey and […]

Why One Trader Thinks The Turkish Crash Will Lead To EM Contagion

Yesterday when we discussed the dramatic crash in the Turkish lira, resulting from the visa suspension drama at both Turkish and US consulates, we noted that “this is the currency’s seventh consecutive decline, after dropping on Friday amid concern Fed tightening would hurt EM currencies, and should it persist may finally have an adverse impact […]