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Global Markets: US Treasuries Show The Way

Today’s disappointing US non-farm payrolls notwithstanding, the global economy picked up momentum in July, providing initial confirmation to our view that growth had troughed and would improve in the...

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Emerging Market Currencies: TRY Harder

Most of the world appears to be adjusting to the reality that the end of the US Federal Reserve’s long-term easing cycle is finally in sight. In the past month, emerging market central banks...

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Turkey: Has Erdogan Overreached Himself?

Recent days have seen substantial public protests in Turkey against Prime Minister Recep Tayyip Erdogan, who has been in power for more than 10 years. What began as a protest against Erdogan’s...

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ECB Rate Cut: Too Little, Too Late?

Having tipped off the market at the previous monetary policy meeting that a rate cut was pending, the European Central Bank (ECB) followed through and lowered its benchmark refinancing rate on May 2...

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