service sector Euroland PMI
No Sino/U.S. Trade Deal, Falling Turkish Lira, and U.S. Jobs Day
May 4, 2018
U.S. Treasury Secretary Mnuchin has left Beijing with no agreement on trade. Investors wonder how soon tit-for-tat tariffs may follow. The Turkish lira tumbled by more than 1% overnight, moving past 4.28/USD and bringing cumulative depreciation to almost 5% over the past four sessions. Turkey has double-digit inflation and an autocratic government that’s dissuading the […] More
