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Podcast: Market Depth
Episode: Why Turkish Elections And The Lira Matter To Global Macro Markets
Description: As the first round of Turkish general elections result in a runoff round, with President Erdogan facing his toughest political challenge yet, Turkish assets have been exhibiting volatility - as one would expect given the uncertainty. However, the one asset class that remains strangely stable (thus far) is the Turkish Lira, as continued state interventions dampen any sharp selling pressure from plunging deep into new record lows (for now). Weston Nakamura does a deep dive into the Turkish lira, and the often overlooked significance that the lira has had on global markets, citing two instances in particular...