Collapse in TRY Causes Risk Aversion in FX Market

Rates as of 0500 GMT Market Recap Rather modest movements in the currency market since Friday morning. The biggest move was in the Turkish lira TRY, which collapsed some 14 after Erdogan dismissed the head of the central bank the third CB head to lose his job in less than two years and replaced him […]
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Wall Streets Year of Bust and Boom

NEW YORK, March 22 Reuters Wall Street giddyness in recent weeks stands in stark contrast to the pandemic panic of one year ago. U.S. stocks on Tuesday will mark the oneyear anniversary of the market low as the spread of the COVID19 and government lockdowns began to crush economic activity, before massive government and central […]
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Stocks and Forex Ride out Turkey Shock

SYDNEYLONDON, March 22 Reuters The fallout from Turkeys latest market drama appeared contained on Monday, as stocks and emergingmarket currencies recovered from President Tayyip Erdogans shock replacing of a hawkish central bank governor with a critic of high interest rates. Indexes tracking Europes 600 largest stocks, emergingmarket shares, and emergingmarket currencies all stayed near flat […]
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Russian Rouble Hits over 2Week Low on Sanctions Risk

MOSCOW, March 22 Reuters The Russian rouble cut some losses after hitting a more than twoweek low versus the dollar on Monday as new sanctions against Moscow loomed and Turkeys nosediving lira led to a drop in risk appetite. By 1201 GMT, the rouble was 0.4 weaker against the dollar at 74.39. Earlier, it slumped […]
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Euro Zone Government Bond Yields fall on Turkish Tumult

Euro zone government bond yields fell on Monday as a plunge in the Turkish lira boosted demand for safer assets. President Tayyip Erdogan shocked markets by replacing Turkeys hawkish central bank governor with a critic of high interest rates, sparking a selloff in stocks, talk about possible capital controls and a dash for safer assets […]
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