MNI BRIEF: US Labor Costs Increase 0.9%, Below Expectations

MNI BRIEF: ADP's Richardson Sees Normalizing US Labor Market

CANADA FLASH Q2 GDP ANNUALIZED +2.2%

MNI China Daily Summary: Wednesday, July 31

MNI: PBOC Net Injects CNY185.57 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1346 Weds; -1.39% Y/Y

EZ/UK Bond Supply Calendar: Spain, France Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -3.44M TO 433.0M JUL 26 WK

MNI: US NAR JUN PENDING HOME SALES INDEX 74.3 V 70.9 IN MAY

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Simsek Appointment Gathers Pace, Bolstering Market Credentials for Next Term

TURKEY
  • Confirmation of Mehmet Simsek as the new finance minister has supported Turkish banks strongly from the open. The Borsa Instanbul-100 has traded higher by as much as 3%, with the bank subindex posting gains of over 6.5%.
  • Simsek is to take the role of Treasury and Finance Minister – with more direct oversight of the economy than markets had expected – after he was floated as a potential Vice President or the head of a smaller economy-oriented team.
  • Reports earlier in the week had suggested that Simsek would only accept a role in government on the condition of full independence for at least two years – bolstering his market-friendly credentials. Formal confirmation is expected tomorrow. In negotiations with government, Hurriyet reports that Simsek required assurances from Erdogan over “central bank management and interest rates”.
  • Erdogan’s new cabinet meets for the first time on Monday – at which Erdogan could formalize the appointment of two vice presidents, up from one in the previous term.
  • Sabah reports that further measures are being put in place to protect tenants – a protection shield will be put in place to prevent exorbitant rent increases, with a 25% rent rise limit and penalties for “opportunists”.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.