"We forecast a recession next year. Inflation will peak at 22% before subsiding to below 20% by mid-2019. Combined with the expected sharp balance-of-payments adjustment, we foresee a hard landing for the Turkish economy."
US equity markets are jumping to the highs of the day after reports that Chinese and U.S. negotiators are drawing a road map for talks to end trade deadlock, culminating with meetings between Trump and Xi at multilateral summits in November...
"Whether by accident or design, Turkey is trying to rewrite the chapter on crisis management in the emerging-market playbook... Unless it changes course, the government risks much wider damage – and not just in Turkey."
In just 4 trading days, the S&P 500 "bull market" which has purchased by central banks with trillions in liquidity and by companies with even more trillions in buybacks, will become longest of all-time. What happens then?