Quotes from the news wire:
The inflation print yesterday was atrocious...and the worst part of the story is that this isn't the end of the up move part of the inflation cycle in Turkey, bad inflation translates into a negative lira reaction, which translates into faster inflation, and that becomes a self-reinforcing loop.
Found on Reuters 6 years ago
The (central bank) may have been wary of a repeat of an August 2015 situation when the market just collapsed after the PBOC allowed a depreciation of about 2.5 percent in a single day, so the move today is a subtle signal that that's not what's going to happen, and the market seems to have taken this signal - at least on the currency side - as a positive, risk-on move.
Found on Reuters 6 years ago
We are still in the midst of a potential downside adjustment in prices for emerging markets and risk assets in general.
Found on Reuters 6 years ago
The central bank will have to step in at this point, the problem with Turkey is that the independence of monetary policy has been largely compromised by the way the politics works.
Found on Reuters 6 years ago
As the macroeconomic environment deteriorates - and it will deteriorate as that is an unavoidable consquence of falling foreign direct investment and tourism - you will see more reluctance to invest in Turkish securities.
Found on Reuters 8 years ago
With the risk of further downgrades, this sector will be under pressure, which will likely trigger big outflows and put more pressure on the currency.
Found on Reuters 8 years ago
Easing (by BOE) will be a sign that there is a willingness from major central banks to support growth in the midst of growing uncertainties and that will translate into positive performance for emerging markets, it's liquidity that's being generated elsewhere, part of which will be moving to emerging markets.
Found on Reuters 8 years ago
The markets recovered, the calendar is pretty empty, and the market is just waiting for the referendum to be cleared as a source of risk, so everything is leaning in the direction of 'wait and see' until next week.
Found on Reuters 8 years ago
The market doesn't have many chances to be surprised on the positive side.
Found on Reuters 8 years ago
The odds that Rousseff will continue to the end of her mandate have fallen below 50 percent and the market is very happy about it.
Found on Reuters 8 years ago
The market is just extending the moves we saw prevailing last week which were in a positive direction.
Found on Reuters 8 years ago
This is just an extension of the bull move after the very bad start to the year, what really matters to the market at the moment is what is implied by a potential Fed hike ... If the Fed hikes it's because the economy in the U.S. and therefore the global economy is not doing as badly as previously thought. That's positive news for emerging markets.
Found on Reuters 8 years ago
The China data in the best case is neutral so the rebound in oil is probably the more relevant factor.
Found on Reuters 8 years ago
We expect the central bank to increase expected inflation for 2016 and 2017 and that is probably going to have immediate implications for its January meeting.
Found on Reuters 9 years ago
We are going into the most uncertain month of the year, and probably of the past several years.
Found on Reuters 9 years ago
That move was anticipated by markets, Russia was expected to follow through on it, it is something that is still developing - there is a lot at stake. In this context, Turkey has more to lose from this situation than Russia has.
Found on Reuters 9 years ago
The market is waiting for the Fed's first move, we need to see that move before the market can take a direction - we should expect a lot of volatility between now and then.
Found on Reuters 9 years ago
The market was surprised by the result, so there was a strong knee-jerk reaction yesterday, but it has adjusted for the surprise now.
Found on Reuters 9 years ago
I don't see anything particularly significant at this stage that justifies the extension of the rally.
Found on Reuters 9 years ago
The Chinese rate cut on Friday hasn't produced a very positive effect on emerging markets, the People's Bank of China mentioned a few things that unsettled markets, so the market is focusing again on the possible downside risks to Chinese growth.
Found on Reuters 9 years ago
Pegs are sustainable only as long as you run a big current account surplus and there are inflows that allow central banks to support their currencies.
Found on Reuters 9 years ago
The rand has reacted badly to the inflation data, which came in below expectations as it reduces the odds of a rate hike.
Found on Reuters 9 years ago
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