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In light of the recent currency collapse in Turkey, people are beginning to worry about contagion. This is the sort of thing that snowballs because humans are absolute faggots. There is never a reason to crash markets — it just happens because of fear.
The story with the Lira is especially interesting, since they have a great balance sheet — but limited FX reserves of only $114b. They are heading into elections and Erdogan has promised to make sure rates stay low.
Here’s long term EM bull, Mark Mobius, warning of possible contagion in some of the smaller EM markets.
Long term EM bull, Mark Mobius warns of potential contagion in smaller markets pic.twitter.com/hyQGnCgDyA
— The_Real_Fly (@The_Real_Fly) May 23, 2018
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