Turkish Lira meltdown & contagion fears

Summer is usually a slow time for the financial markets with range bound moves specially in the Forex markets but all that seems set to change with the collapse that we saw in the Turkish Lira last week and the impending contagion concerns associated with it. I am a big believer in data driven cyclical factors in the global economy, but there is always a trigger which sets the wheel rolling for the next phase. Most of us still remember the Greek sovereign debt crisis which kicked off in 2010 following the financial markets meltdown of 2008-09. That one instance…...