Hello it’s Tim Seymour this Monday March 3. We are giving emerging Money subscribers updates throughout the day on the events Crimea, Ukraine and Russia along with the macro to political.
At Emerging Money we have written significantly on Turkey and discussed the challenges of their macro struggles. In short, we have guided investors towards a view that Turkey is not broken but will be noisy on politics and that the investment time horizon will be over the next 12 months, not 12 weeks.
A quick update – GBP/USD along with other risk on currencies are trading lower after comments from U.S. Secretary of State John Kerry concerning the situation in Syria.
Economist Kenneth Rogoff is one of the great economic minds out there. His book, “This Time is Different” is probably the best read about the 2008 financial crisis and the structural issues surrounding it.
Despite China’s GDP better than expected results of 7.9% suggesting China’s economy is beginning to speed up once again the U.S. dollar remained well supported against the majors.
This is sad and bad business. Russian President Vladimir Putin says he will sign a law banning U.S. adoption of Russian children.
South Korean stocks rose today after the historic election of the first female president, Park Geun-hye. Park is the 60-year old daughter of a former dictator and a member of the conservative party. She replaces outgoing President Lee Myung-bak.
The opening today of the Chinese Communist Party Congress which will oversee the once in a decade transfer of power will likely raise questions of what the impact of this political change is on Chinese stocks and markets worldwide.