Wild Turkey 🐓

by | 9 Jul, 2019

Wild Turkey

Turkey’s economy is a shambles, many say. And late yesterday, President Erdogan compounded the Turkish turmoil by ousting one of his very important officials, the Governor of the Central Bank, Murat Cetinkaya. Here we go…

Turkey may seem off the beaten track niche for investing circles, but on its lone exchange, it can still strut over 132 billion dollars of market value. Alas, no matter how tucked away the Turks might be geographically, they’ve by no means evaded the choppy waters of global trade.     

In charge of sailing a country through such waters is the chairman, the governor, the head, or the president of the Central bank. Bearing an enormous responsibility, he or she is the conductor of an economic orchestra of forces, from inflation to interest rates. The nominated official is tasked with spinning multiple plates, juggling economic growth and breathing life into stocks, without letting sentiment get too out of control. Centre stage of market speculation, this is not someone you want to throw a curveball.

All-out firing your economic conductor is something else entirely. However, when you have an election coming up, and you need stock market sentiment behind you, sometimes removing a tight fed frontman can feel like your only option. That’s precisely why US investors are monitoring Turkish developments so closely this morning. 

Trump’s been slamming his Fed officials lately for their reluctance to loosen up and boost the stock market. Erdogan’s stolen his line. “You’re fired!” he’s said to that sticky top official, a stunned world now awaiting the aftermath.

It’s not looking pretty. Stocks on the Borsa Istanbul 100 nosedived on the news, along with the lira, the country’s currency. We’re all crossing our fingers that this rogue wave doesn’t capsize the rest of Europe, as the US, an ocean away, gets a lesson from afar. What a week this is turning into!

All emails include an unsubscribe link. You can opt-out at any time. ​See our privacy policy.

Download on the App Store           Download on Google Play

ALL RIGHTS RESERVED © INVSTR LTD. 2018

Risk Disclosure:

Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.

Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.

Brokerage services of US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth, LLC a registered broker-dealer and member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. 

DriveWealth provides no tax, legal, or investment advice of any kind, nor does DriveWealth give advice or offer opinions with respect to the nature, potential value, or suitability of any securities transaction or investment strategy. DriveWealth acts as the clearing firm for securities transactions entered on the Invstr mobile platform. DriveWealth is not affiliated with Invstr. Invstr does not participate in DriveWealth’s decision-making.

There is no minimum initial deposit required to open an investing account with DriveWealth. Expenses and Fees associated with the DriveWealth platform in conjunction with Beanstox includes either a monthly membership fee of $4.99 with a commission charge of $0.01 per share* or, in the event the membership fee is not paid, a commission charge of $0.0125 per share applies, subject to a minimum of $2.99 per transaction. There are no monthly minimum fees, or required ongoing minimum account balance. For non-resident aliens, there is a one-time tax verification fee of $5.00 (representing Form W-8BEN pass-through processing cost). View a full list of our fees at http://bit.ly/DWFees

The monthly subscription charge is four dollars and ninety-nine cents (US$4.99) per month plus one cent (US$0.01) per share traded (as examples, for a Transaction of 0.90 shares, the per share traded charge is one cent (US$0.01), and for a Transaction of 1.6 shares, the per share traded charge would be two cents ($0.02), and the quarterly subscription charge is fourteen dollars and ninety-nine cents (US$14.97) every 3 months plus one cent (US$0.01) per share traded. The monthly and quarterly subscription charges may be greater or less depending on additional services offered by a DriveWealth partners as part of the subscription model offering, or based on any subsidies provided by a DriveWealth partner as part of the subscription model offering. For non-resident aliens, there is a one-time tax verification fee of $5.00 (representing Form W-8BEN pass-through processing cost).View a full list of our fees at http://bit.ly/DWFees

This communication is not an offer or solicitation to purchase or sell securities. Investing in securities carries risk, including the loss of principal. Past performance is not indicative of future returns, which may vary. Online trading has inherent risk due to system response and access times that may be affected by various factors, including but not limited to market conditions and system performance. An investor should understand such facts before trading. The risks associated with investing in international securities, including US-listed ADRs and ETFs that contain non-US securities include, among others, country/political risk relating to the government in the home country; exchange rate risk if the country's currency is devalued; and inflationary/purchasing power risks if the currency of the home country becomes less valuable as the general level of prices for goods and services rises. Before investing in an ETF, an investor should consider the investment objectives, risks, charges, and expense of the investment company carefully. ETF prospectuses are accessible within the mobile application via a link under each company’s “Description.”

A fractional share is a share of equity ownership that is less than one full share. Fractional share investing has certain limitations and restrictions that investors should understand prior to purchasing fractional shares: ownership of less than one full share does not give the fractional share owner the right to vote on company matters; fractional shares are non-transferrable, meaning they cannot be transferred to another brokerage firm; and fractional share orders will be accepted as market orders only. For more information and details on fractional shares, and any associated limitations or restrictions please visit: https://drivewealth.com/fractional-shares-disclosure

Share This