Summer of ’97? The SPX jumped 6% in the month after the baht took its bath…. EM is the canary for U.S markets. It’s going to be swift and violent

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This issue continues to get worse. There’s no way out of this at this point. As the central bank intervenes, it’s only making matters worse, as it always does. Every currency must return to their intrinsic value. Some are doing so rapidly, other take much longer. Anyone holding onto real assets in Turkey right now is fairing far better than those holding onto their depreciating currency.

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Turkey promises plan to calm markets in bid to halt lira’s fall | Financial Times

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TCMB – Press Release on Financial Markets (2018-31)

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