While one could take their pick of bloodbathery today, Turkey seemed like an appropriate place to focus as its bond yields are exploding higher, currency collapsing, and stocks plunging to the lowest since March 2014. How long before Erdogan decrees all of this impossible and fires another ‘dependent’ central banker?
The Lira is plunging at its fastest in 6 months…
Stocks are getting hammered…
And Turkish bond yields are spiking across the entire complex…
Given Russian sanctions, it would appear Bilal is going to have to transport a lot more ISIS oil (allegedly) to keep the economic dream alive in Turkey.
Charts: Bloomberg
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