- Erdogan's decision of sacking the Central Bank's Chief shocked the markets.
- Despite the harsh sell-off after the surprising weekend decision, domestic investors managed to balance the markets by selling more than 12 billion dollars in three weeks.
- Sucker-punched foreign investors are not likely to come back until the political outlook changes.
- All in all, fleeing investors will be troubling for the fragile Turkish Economy as inflation and FX reserves are already alarming.
For further details see:
TUR: When The Paper Is Crumpled Up, It Can't Be Perfect Again