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Ruling Party in Turkey wins

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Not too hot.. definitely not too cold. The ruling party in Turkey wins but does not get an ovewhelming majority to gum up congress and push through overly social measures. This is all a positive for the market. TUR From Bloomberg

Lira Hits Month High, Bonds Rally on Erdogan Third Term Victory The lira appreciated as much as 0.6 percent to the strongest level since May 10, and traded up 0.1 percent to 1.5734 per dollar at 1:06 p.m. in Istanbul. Two-year benchmark bond yields dropped for a fourth day, sliding five basis points to 8.82 percent, poised to close at the lowest level in more than a week, according to the TEB Local Benchmark Bond Index.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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