This week’s Market Update is posted at Alpha Baskets and includes the following;
A quick update on Turkey after the coup attempt on July 15th; President Erdogan has implemented a three month state of emergency which depending on one’s viewpoint will allow him to stabilize the political situation or grab more power. Equities in Turkey declined 12% for the week while the lira fell about 2%. Turkey’s sovereign debt has been downgraded by S&P to BB, a junk status. Barron’s reports that its ten year bond now yields 4.6% which seems a little low being about a week removed from a failed coup.
Please click through to read the entire update.
The first picture is my favorite looking car from my NASCAR visit a year and a half ago, filtered to look neon green.
The second picture is a close up of a buggy from the Mint 400 Off Road race from March.
The last picture is from Kenan Memorial Stadium, home of the University of North Carolina Tar Heels.