Turkey is getting on the markets’ radar
But unfortunately, in a bad way, as I think it is the lira weakness that has caught markets’ attention.
How do I know? Well, googgle trends does not capture anything:
This is no big surprise, as in a world of 1.67bn internet users, the worries of a few thousand investors will not be captured by google trends. Besides, I somehow don’t see a hedge fund manager doing a google search on Turkey if he is worried about the lira.
Luckily, I have my own set of proprietary! indicators:
For one thing, I have suddenly got three interview requests this morning. The last time your friendly neighborhood economist was in such demand was right before the June elections. In fact, I only got two did a TV interview in the Grand Bazaar with BBC Persian (great shots with me sipping tea like an agha in Grand Bazaar, will post it when it becomes available) and had to turn down another with CnnTurk down because of being out of town (but that one was on Euro Area debt) after the elections.
Secondly, as I noted last week, Daily News is coming with a lot of interesting articles of late, making it very difficult for your friendly neighborhood economist to make it to the top 10. But yesterday’s column was at number eight:
The popularity of yesterday’s column is another sign on the interest on Turkey because of lira’s woes.
Last but not the least, when I logged on to google analytics to check my blog statistics, I found, to my surprise, that the blog had got a record number of hits. I am not sharing the actual numbers, as I am not sure my host Roubini Economonitor would be OK with that, but both in terms of visits and pageviews. In fact, both got twice as many hits as previous highs.
So Turkey is definitely on the investors’ radar because of what is going o with the lira. Therefore, I will do an extensive post in a few hours on what’s going on in Turkey, lira prospects and possible Central Bank action…
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