Daily Note – Volatility’s Comeback

VIX_cartoon_07.07.2014Summary

  • Turkey in Trouble?
  • South African carry trade unwinding?
  • Aussie employment surprise
  • A post-mortem on ECB disappointment

Good morning,

Things are certainly heating up in the Mid-East, and Turkey seems to fumbling its way to the epicentre of the crisis.

Already public enemy number 1 in Moscow following the downing of a Russian jet in Turkish airspace in November – even earning a special place in Putin’s annual presidential address, replacing some of of the anti-American rhetoric we’ve grown used to since 2012 – the Turks have now upset the Iraqis. Following the deployment of Turkish troops in Northern Iraq near Mosul, the Baghdad government has brought the matter to the UN Security Council.

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GlobalMacro360 Daily Note 10th December 2015

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