When a central bank loses control bad things happen:https://t.co/ZCzAk7UWoM
— Sven Henrich (@NorthmanTrader) March 22, 2021
*TURKEY CREDIT-DEFAULT SWAPS JUMP MOST ON RECORD TO 472BPS
— *Walter Bloomberg (@DeItaone) March 22, 2021
OUCH! #Turkey 10y yield jumps to 17%. pic.twitter.com/2zR3Q8WGdi
— Holger Zschaepitz (@Schuldensuehner) March 22, 2021
Without foreign exchange earnings from tourism, without much remaining FX reserves to defend the currency, and considering an expected exodus in foreign and local investor capital, it may be difficult for #Turkey to avoid another currency crisis in the coming months. pic.twitter.com/1eCO1xsz9Q
— Holger Zschaepitz (@Schuldensuehner) March 22, 2021
#Turkey picks worst time to fire central banker.
Erdogan removed hawkish Gov Agbal, replacing him w/professor who says high interest rates cause inflation. Widening CA deficit, depleted FX reserves & inflation at 16% make a currency crisis more likely. https://t.co/5YGZI43RJx pic.twitter.com/oem6thjQ4U— Holger Zschaepitz (@Schuldensuehner) March 22, 2021