Friday Workout - Getting Hyper over Inflation; Chicken in Baskets; Unheard Immunity
- Chris Haffenden
As we noted in last week’s Friday Workout there are few market participants left who remember the ravages of inflation on developed market economies and bond markets. After all, it was over 25-years ago. Recent and frequent examples exist however, in Emerging Markets, which have tested plenty of radical economic theories over the years. President Erdoğan doubled down on his inflation busting rate cuts this week - given his unconventional views - it is not surprising that Turkish Central Bank governors have shorter tenures than Tottenham Hotspur managers.
Tim Ash, the Commerzbank EM economist (and renowned Turkey expert) posted this on Twitter: