TRY Butterfly flapping its wings
Here's what I expect next:
1. USDTRY goes to 25 and beyond.
2. Turkey defaults on its debt.
3. Deutsche Bank demands a bailout.
4. EURUSD crashes below 0.90.
5. 10Y US paper goes to 4..5%
6. All yield (stocks and debt) loses 2/3rd of value.
The Butterfly Effect in action.
1. USDTRY goes to 25 and beyond.
2. Turkey defaults on its debt.
3. Deutsche Bank demands a bailout.
4. EURUSD crashes below 0.90.
5. 10Y US paper goes to 4..5%
6. All yield (stocks and debt) loses 2/3rd of value.
The Butterfly Effect in action.
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