13 August 2018

Bassanese Bites: Turkey Shoot – Week beginning: 13 August 2018

It was a mixed week for global markets with lingering optimism over the US economy tempered by concerns surrounding emerging markets in the wake of financial volatility in Russia and Turkey. US sanctions have unnerved investors in these markets, culminating in Turkish President Tayyip Erdogan even cajoling his citizens to buy up the beleaguered Turkish lira. They appeared to do the opposite, with the lira dropping a further 20% last week against the $US.

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