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Turkish Stocks Collapse Most In 10 Years, Bond Yields Surge Most On Record
UPDATE: BIST-100 Closes -10.47% - Biggest drop since March 2003
Until mid-last week, the Turkish equity market was up 90% from the start of 2012 and up 19.5% in 2013. Of course, why not. Global easy money and a nation in the middle of economic and geopolitical hotspots - buy it with both hands and feet. However, it appears reality is starting to sink in. Last week's (and ongoing) social unrest is beginning to take the shine off the hot-money flows. The broad Turkish stock market is now down 17% from its highs last week (very reminiscent of Japan) having given up in 3 days the gains from the first five months of the year. Turkish bond yields also spiked (moar hot-money outflows from 'reaching for yield') by their most on record (71bps) to 6.78%.
Turkish Stocks...
Turkish Bonds...
Charts: Bloomberg
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Currency warz, Muppetz.
Weeeeeeeeeeeeeeeeeeeeeeee!!!!!!!
Then again, it might have something to do with this:
"Pools of Blood in Streets of Turkey after Massive Conflict"
Al-queda lovin', Israel supportin' - Turkey is showing the love Commie style. Warning, not suitable for US Jnews.
http://intellihub.com/2013/06/01/turkeys-taksim-square-drenched-in-blood-as-900-protesters-are-arrested-extremely-graphic-content/
"Does Al-Queda mean "the cheese of Al?" 'Cause my Spanish is not so good..."
Looks like this is as close as we gonna get to an 'ol skool' ZH style report on moving events...
having hung me out all day, knowing that I fade by this time ... this is where I put my latest reportage... if it get's 'disappeared' dear ZH loyalist... you'll indeed know... which way the winds blow here. Search Hurriyet english edition for photo gallery of the Ankara protests... it's even more important than Stanbul! They are ready to go for broke now. My report follows....
Now that the world is waking up to a new week of news events… and catching up to the events of an historic weekend… the battle for informational supremacy will slip into high gear again. Lots of different agendas will get hitched to the battle that pitched a cross section of Turkeys’ classes, denominations, and political groupings against the agents of a government which has decided to rule by means of mass intimidation… in the spirit, no doubt with the instructions of the Nobel Peace Price winner hisself.
Since amongst the masses of usually non-political folks who turned up the show their disgust with the police state tactics of the AKP Islamist regime were football players, we can metaphorically score this first round of the June 1st and 2nd Battle of the Bosphorus as 2-0 for the unarmed side. One goal to be credited to the winners for having shown up in overwhelming strength in a spontaneous show of solidarity against incipient fascism(perhaps we finally got to see just exactly what the much bandied term “islamofascism” actually looks like!) … the other score a goal in own net which the government scored by showing a heavy-footed and leaden determination to overawe a populace with tear gas and water cannons, thinking that the original few protestors in the park would fold. Backfire!
All this long long while that the Muslim peoples of this Islamic but constitutionally secular state have been watching their leaders talk a good game … about supporting the Palestinians against the sionist genocide campaign… about support Muslim world unity, while watching their government induct western trained and financed terrorists into their neighbor Syrias’ troubles, there had been a sort of suspension of disbelief. Everyone wanted to believe that Erdogan had some kind of greater vision of the future. Greater than himself, or just his party, or the particular slice of Islamic doctrine that he and they subscribe to. That was the hope. That hope is dead.
In overwhelming numbers the Muslim population of Turkey resents and rejects the interference of the government into the affair of a neighboring secular state on behalf of a criminal cartel of western powers and the sionist entity which rules over all of them. It wishes to free itself from implication in further political adventures designed to weaken Islamic solidarity and increase the fracturing of Middle Eastern stability… it has sopped up liberal doses of state media disinformation about what is supposed to be the real role of a neo-Ottoman Turkey in the future, but remained unconvinced that the real truth is being told to them. And now the simple protest over a greenspace in the middle of Istanbul, as inconsequential of itself, as the semmingly futile protest of a single fruit peddler in Tunisia two year ago has given them a venue to reject it all… another shopping mall development and crony enrichment program for the AKP hegemonists has proved to be one bridge to far for the suited Sultan to cross unimpeded! The people of Istanbul not only did not back down, but their protest spread to over 80 other cities across Anatolia. Merikans can only watch… and wonder… where did their cojones go?
That’s enough for one posting…Muhammad Bouazizi(may he rest in peace!)did not start the putative “Arab Spring” the western controlled media loves to talk about. He made the ultimate gesture of defiance against a statist world that crushes dissent by whatever means most expedient. His memory is unsullied by politics, by faction, or religion… my brother Muhammad was one of our guild of small scale entrepreneurial traders who the moneychangers deem to be dangerous to their usury\interest monopolist ascendancy. Our Muslim brothers remember that their Prophet charged them to make their livings honestly, and free of greed for dishonest gain at the expense of the community around them. This last weekend our Muslim brothers and sisters in Anatolia showed us the power of his memory. We are in their debt. There are no more Arabs, Turks, Palestinians or Merikans anymore– we are all prisoners of the sionist imperium … we are all Muhammad Bouazizis now.
to be continued... I'm not gonna edit this for grammatical mistakes. As per usual now... pls copy and repost if voided by tptb... on the all new ZH. I got's a feeling that Tayyip is only a day or so away from pulling the plug on our internet connections to the outside world. He was quoted by hurriyet as saying that twitter is 'trouble' yesterday....
I will post again with the subject of the Sultan Selim(the Grim)Bridge as the key to unlocking what is happening here... if the internal ZH censors allow
excellent post, many thanks.
I don't know shit about this except that Sheikh Imran Hosein has been saying for years that Turkey is on the brink of civil war and now it looks like more than ever. Time to initiate the regional war against Syria all parties need a massive distraction and scapegoat
I don't know about you, but I have totally forgotten about the Sarin Gas Turkish soldiers captured from Syrian rebels, week of 5/27/13. And I sure don't know anything about the Russian surface to air missles being in place and functional as of today. Nor do I remember anything about a potential nuclear tipped Tomahawk tossed on a Syrian arms outpost on or about 5/2/13. Nope, I don't know nuthin'...... But, if I did know something, I would think that things are getting very hot for the destruction of Israel, almost as if a Biblical prophesy is being carried to fruition.
Buy the dip. EOM
Sheikh Imran is also wise to the fact that sunni governments are now serving zionist interests (only a few countries in the world that are not)... and has been outspoken about it. many of his lectures (available on youtube) are really excellent and well worth watching. Sunnis, wake up, you are being used. Looks like some of the Turks have figured it out, at least at a gut level.
Great post, Joyful. Thanks!
The protestors told you all of that.. When?
I live here dude...
my future prospects depend upon my daily divining which way the winds blow for a visible n cultural minority guy who likes to live on the edge of history. But as a foreigner living in a country with 'blasphemy' and 'insult of the state' laws I can't afford to get too close the action anymore. .... in fact, at this point... I can't really afford to stay online for extended time anymore.
I was in Beyoglu\Taksim 12 days ago, but the atmosphere in Stanbul was so heavy that I chose to just go back home that same day... but I met a Merikan ugy I know today in the pazar who was there for the tear gassing... his right eye was a mess. But at least it still functioned.
http://www.hurriyetdailynews.com/twitter-is-a-troublemaker-turkish-pm---...
http://www.hurriyetdailynews.com/1500-protesters-detained-in-ankara-poli...
Now I try to keep up with what's going on from my little spread far enough away from the police state nexus as to make me breathe a little better.
Where the fuck do you live smart guy?
thanks for the updates J
stay safe
Why is this even news? 'Cause the "smart money" went chasing emerging market stocks and bonds and making them sound legit. Good grief, we are so screwed.
The Turks have always loved gold.
Destabilization of an Au exchange hotspot.
governments do appear to be securing their resources. It's as if an entire "hidden war" is about to explode into the real thing "and they're preparing." one way for example is to "go all in on battery tech." this frees up fuel...massively actually...for a potential "push on Moscow" as it were.
It's a silent game of phyz hoarding and fiat upkeep for now, all in preparation for global fiat collapse. JPY will take EUR and USD with it when it goes, which takes everything else with it too. One day the people of the world will wake up and have no wealth and then the real fun starts.
You're totally right about the silent war. Most of us here feel the storm a comin.
While I'm still on line ... let me report to my fellow goldbugs a conversation of today here...
wherein I was informed that as lately as 6 years ago... a good cow cost 17 gold bracelets... those being the standard 12-14g(22k) variety...
you could pick up the same holstein 2 year old milch cow today here for prolly tween 3-4 of the same bracelet.
This tells me two important things....
first ... gold was\is currency... with an informal economy valuation specific to an item integral to our rural reality.
second... that holding gold... over having purchased livestock this past six years has been a better yield than anything comparable. I will dare to extrapolate this anecdotal data to real estate and other investments. Though I daily kick myself for having bought livestock in the last 3 years.... with explosive increases in feed costs and ever lowering live weight returns... that I only dabbled in the farm sector, whilst going basically all in on the pms... makes me sleep so well at night, that I can pretty much handle anything that the all new ZH 66.6 throws at me!
your Middle Eastern correspondent... and soulsurvivor of multiple talmudist online putschs...hang tough...we will pull this out of the fire. JOY!
I'm stunned.
A market doing what one might expect a market to do under such stress as Turkey is under right now.
One feels that if the riots were happening in New York, the US Stock Market would be going to the moon.
Excellent comment. You understand everything completely. There will soon be a very tiny drone coming into your home, it will look like a common house fly...do not be alarmed. It's there to protect you...
"a common house fly"
reminds me of the people who use them
"Gap down, Gap down, Gap down..."
I'm on record as wanting another Flash Crash, only worse. Maybe 2000 or 3000 points?
I just don't care anymore and want it all to burn to the ground and have traders jumping out of windows.
I like flash crashes because Maria B. puts on that sour puss and tries to laugh it off.
Good thing all that hot money is free. They're going to be losing a lot of it jumping from one sinking boat to the next.
More than 10% now...whooop there it is!
Maybe Howard Stern will resurrect "Who wants to be a Turkish millionaire?"
Stern is part of the degenerate agenda: attacks on values, family structure and promotion of materialism/debt. This Jew is not your friend...
Look at what Mexican bonos have done over the past week. EM flows pumping the brakes.
16-videos-100-photos-what-is-happening-in-turkey
http://www.islamicinvitationturkey.com/2013/06/03/16-videos-100-photos-what-is-happening-in-turkey/
I believe there is a saying, "the time to buy is when blood is running in the streets."
Anyone suggest a good Turkish "magic carpet" stock on a dip?
So the Turks don't use Cyrillic letters like the Russians and Greeks .... nor muslim semi-hieroglyphics .... they use more or less Roman looking letters with some attached accent squiggles ? I guess it makes sense they wouldn't use anything Greek .... they've been weired like that since they blew up the Parthenon ? These Muslims love blowing up Christian and Western cultural treasures .... it's about payback time for the swine .... nuke Mecca now ! I would love to see Trouble Making Turkey get it's come uppance from a coalition of Armenians, Russians, Kurds, Brits, Bulgarians, Syrians, Joos, Lebanese, Cypriots .... all the people they've "touched" ! Erdoban is a Bag of Shit ! I'm loving the unrest in Turkey !
TD,
"Collapse"? What collapse? More like a "Correction". Which is typical of the Turkish market: More bullish on the way up, more bearish on the way down.
If you're gonna call it a 'collapse', we should apply the same label to the 25-30% "collapse" of gold prices. If, IF we're gonna be intellectually honest and consistent in our use of semantics.
Otherwise I can imagine the following post: "'Collapse'? From $1800 down to $1400? So what! Wake me up when the muthafucka is near $300 -- which is my average price of shares. - Laws of Finance"
;-)
Domino time bitchez! Volatility is in the air, first Japan, now Turkey, which country is next with a minimum 15% sell off from the high in few days?
Turkish Army may have had its fill of PM Recep Tayyip Erdogan. Rumors of a military coup are enough to send investors out the door in a hurry. That Erdogan chooses this time to go on a four day trip to Morocco shows a very bad survival instinct. Will the generals declare martial law? Stay tuned.
the current generals are sock puppets of the turkish dictator. don't hold your breath for a military coup.
the current generals are sock puppets of whoever provides the most baksheesh.. but you know that e-recep...
not a coup... more like a leveraged buyout of one more middle eastern subpotentate.
Good call chum... I'm beginning to suspect that the 'generals' have received the go-ahead myself... kind of like a repeat of the dump Mubarak... bring in the Army... call for elections... insert puppet Muslim Brotherhood... watch another country disintegrate meme... it just gets worse n worse from here.... according to the sio-script that is!
Maybe we don't have to go that way though.... sites like ZH have been ruining the best laid plans of the moneychangers for a while now...[maybe that's why the strange silence on the big story in the room!>>...is it over?] Anyways...
I'm done for the day... if in the next 8 hours or so of my downtime a post comes up here actually related to the seminal events taking place here... please forward my comments...to the appropriate thread. If, on the other hand... the day expires with no mention of the Islamist imbroglio here... you'll pretty much have confirmation of what I post below....
It’s pretty clear that the fix is in. We are now supposed to scarf up the pablum and forget about the real news here on the ‘all new ZH 66.6’… you can’t expect to be seeing any news about the events on the Bosphorus here… just more back n forth about phony job reports and other statistical anomalies that create a variety of 6-8 sigma moves on a regular basis now. As one of two regular contributors here removed from the roster last month for the sin of speaking ‘out of place’ apparently… all I can say is that being banned for speakin truth to powercertainly serves to clarify one's mind - of previously hidden lazy spots that take any access to anywhere for granted! . … oh my! Have I spoken out of turn? Will I go the way of my confrere of the removed resistance - twoshortplanks - to start my own blog and talking space? http://twoshortplanksunplugged.blogspot.com
I have a different vision… (though I like his new blog and overall attitude!)I gravitated to this ZH site(next week celebrating my 2nd year here as a non-lurker- err...maybe!?)because of the conjunction of an editorial policy that emphasized continued questioning of all mainstream narratives… with a cast of commentators that stood out from the herd of so called ‘alternative blogs’ forums as being a cross section of people well connected to a variety of financial, geopolitical and spiritual sources that, better than anywhere else on the internet… gave one access to what was essential to know in order to formulate a semi-coherent understanding of the course of events at any given moment. Equal to this access, for me, was the opportunity to bounce ideas off of a brain trust of what, up to the very recent past at any rate… seemed to be the last remaining pond of un-farmed, non-gmo minds left in the west… unbeatable value proposition!
I write the following exclusively for those of the ZH congregation[and specifically as response to Manipuflations comment-3618607 –which I did not see till this morning… ] who have had, for the past couple of weeks at least… the nagging feeling of loss, grief… and something irretrievably ‘gone missing’ on these pages. If that demographic includes you… listen up! I want to communicate with those of my brothers\sisters back in the fallen lands… about surviving the wreck to come… about strategies for pm suppression ad infinitum(I’ve been all in for fourteen painful months now!)… about ways to fight the power without becoming a victim… and I’d have luved to have done it all here on these pages… where the call and reponse repartee gives so much pleasure...
But if such is not to be… I want a backup plan! For the past few weeks I’ve been corresponding with i-dog about such a plan… knowing that I have no ‘organizational skills’ whatsoever… and having identified him in my own instinctive manner as the natural leader of any resistance movement to a putsch of the kind I witnessed on the formerly fabulous Veteran’s Today… I have more or less placed that mantle pon his shoulders. At first that seemed a natural fit according to the nose what knows… but of late it’s been his manner to vacillate … I don’t know why exactly… but let’s face it… likes any man\jack\dawg amongst us… a guy gets subject to doubts. /deed///that’s whats ‘modern mindcontrol’ is all about! If you live in the western world... that's real!
I have a picture in my mind of being part of a collective of truculent individualists who have banded together to present the web world a divergent yet coherent resistance message… that the ZH space may be possibly vacating\has vacated. You feel moved to include yourself in that possible venue… I humbly suggest you place your suggestion in front of the dawg(you know the internal msging drill!) and make a case for his takin charge our cause! …Cause if we don’t get buzy very very quickly… there simply won’t be no cause (for alarm…or anything else) any more! If that dawg don’t hunt… well, I luvs me my ZH...but not enuff to go down with it!
Let's find a way! https://www.youtube.com/watch?v=y9A_uakn6a0
Love Will (Roots Vocal Mix) - Stephanie Cookedooper pooper scooper
as long as we can talk about permaculture, henry george and esoteric origins of precious metals, i'm in.
all the rest of this stuff is getting pretty fucking boring anyhoo...
Let's talk bout every subject forbidden to the 'alternative media' Tippy!
question is... where we gonna do it...? Dawg-gone mia!
ps. it's pretty clear that the pseudoTylers are workin overtime to deny access to the alternative voices to the alternative snooze control button!
kudos y saludos ...
They sided with the Eurozone. Instant gratification. Go get em Loyd.