TRY eyes lowest close since June...>

EMERGING MARKETS: TRY eyes lowest close since June on military incursion

-After the US signalled they wouldn't stand in their way earlier in the week,

Turkish troops and equipment crossed the border Wednesday morning, with

artillery fire in support. The news clearly unsettled markets, which sent TRY

lower against all others in EMFX and now sits on track to close at the lowest

levels since June. Implied vol markets also reflect the unease toward the

currency, with the short-end of the vol curve erasing much of the decline posted

across September.

-Elsewhere, reports continue to swirl suggesting the openness of China to a

partial trade deal at this week's Washington meetings. The news was broadly

supportive of CNH and global equities, but the market's scepticism prevented a

broader risk-on rally.

-Philippine trade balance, Thai consumer confidence, South African manufacturing

output and Brazilian retail sales are the highlights Thursday. Minutes from the

Mexican central bank rate decision are also due.