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Wednesday, January 29, 2014

Whoops, Turkey's not fixed after all


So apparently, Turkey hiking its rates did absolutely nothing to stem the outflows after all. Lira's collapsing, and South Africa's similar experiment also failed and their Rand dropped too.

So at this point, you have 2 collapsed EM economies whose central bank competence has now been utterly rejected by the markets.

Oops!


1 comment:

  1. Has nothing to do with Turkey but the continuing story of Fed tapering - today from 75 billion to 65 billion.
    Still a long way to go before the buying stops.....

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