Due to the last week’s holiday of Kubram Bayram, the tension around the situation in Turkey and emerging markets weakened noticeable. However, it did not mean that the politic and economic problems of Ankara lost their importance. Last week, the minutes from the last meetings of the FOMC and the ECB Governing Council were in the spotlight. The documents did not bring anything new, whereas they confirmed previous plans and announcements of the banks. It is worth mentioning the Jackson Hole Symposium as well, especially the speech of Jerome Powell. The Fed chief confirmed the bank’s readiness to continue gradual interest rates raises, however, he also added these would depend on the macroeconomic situation.

Last week, there was a continuation of the dispute between Washington and Ankara. Unfortunately, the emerging markets and the stock markets were the biggest victims of the conflict. The rejection of the appeal for the release of the American pastor accused for terrorist activities was the key information of the past week. After that, the US threatened to implement further sanctions on Turkey.

Weekly comment MM Prime TFI  - August 13, 2018

Weekly comment MM Prime TFI  - August 6, 2018

Weekly comment MM Prime TFI  - July 30, 2018