The Turkish lira slipped by more than 5% against the US dollar in October alone, and is now close to revisiting January's all-time lows. Iraq's Kurdish region is seeking independence, which some fear could foment unrest among Turkish Kurds. A spat with the US over visas illustrates the government's authoritarian and irascible tendencies. In these circumstances, global investors require a decent real yield on government bonds to stick around, but with inflation at 11%, high compared with other emerging markets, and the average yield on debt at 11.4%, they're not getting one.
Viewpoint
The City View, City AM
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Review: The Hut, Colwell Bay – a seafood lunch with a holiday feelTravel Getting to The Hut in Colwell Bay on the Isle of Wight is almost as rewarding as actually eating there
-
What is the 7 year inheritance tax rule and how does it help cut your bill?Speculation is rife chancellor Rachel Reeves has plans to target inheritance tax once again in her upcoming Budget. But the 7 year inheritance tax rule can save you thousands - here’s how it works.
