From Zacks: Contrary to its ill-repute, August was reasonably pleasant for Wall Street with key indexes like SPDR S&P 500 ETF (SPY – Free Report), SPDR Dow Jones Industrial Average ETF (DIA – Free Report) and Invesco QQQ Trust (QQQ – Free Report) adding about 3.2%, 2.5% and 5% (as of Aug 30, 2018).
From WisdomTree: Turkey is going through an economic crisis — the lira has dropped to an all-time low, 34% over the week ending August 10. The euro also fell 2% over the week because some of the eurozone’s largest banks are lenders to Turkey, as highlighted by the European Central Bank’s financial watchdog department.
From Tyler Durden: To round out the triumvirate, Moody’s just joined S&P and Fitch in the Turkey downgrade party.
From Tyler Durden: Given the goldfish-like memories of financial market participants – and outlier-stripping nature of the algos that really trade – today’s abrupt collapse will likely be a small slap in the back of the head for many traders, but as former fund manager and FX trader Richard Breslow notes, “today’s Turkey meltdown holds lessons to be […]
From Zacks: From being an emerging market with thriving investment opportunities, Turkey is suddenly finding itself in the middle of an economic crisis.
From Adem Tumerkan: My father once told me, “Turkey’s the most beautiful place in the world but it’s run by the most wicked of men.”
From Invesco: It is not a stretch to say that Turkey is beset by troubles both external and internal. Syria’s civil war to the south has caused an unanticipated economic and social strain on the country, and fears of continued terrorism have slowed the engine of tourism.
From Zacks: Turkey held a referendum on Sunday, April 16, 2017 per the results of which the powers of President Recep Tayyip Erdogan are set to increase manifold.
The iShares MSCI Turkey Investable Market Index Fund (TUR) outperformed all other non-leveraged, non-inverse exchange traded products in the U.S. today on a percentage basis, producing a +5% one-day return and outperforming the wider markets by a total of 5.62 percentage points.
From Tyler Durden: It was another bad day for the Turkish lira, which after plunging 5.8% in the first days of 2017, fell as much as 1.8% in early trading, dropping to a new all time low of 3.78 against the dollar.
From Zacks: Turkey is in great demand as the bird is the high point of a blessed Thanksgiving dinner. But in the investment world, there’s another Turkey that draws attention during the event. We’re talking about the country named Turkey. Let’s look at the investment odds surrounding this country right now and see why it’s […]
Analyst Peter Kohli takes a closer look at the Turkish markets, and comes away with the impression that Turkey is worthy of U.S. investment dollars.
The Ishares MSCI Turkey Inv Market Index Fd (NYSE:TUR) was falling again early Tuesday, following news that credit ratings giant Moody’s was considering downgrading Turkey’s rating to junk status.
The Ishares Msci Turkey Inv Market Index Fund (NYSE:TUR) plunged Monday afternoon, following the attempted military coup in Turkey over the weekend.
U.S. Treasuries rallied Monday morning, following a tumultuous weekend in Turkey that saw a failed military coup.