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Erdoğan’s move against main rival plunges Turkey into crisis ft.com/content/84683c… Ayla Jean Yackley Andrew England

Scoop - Turkey spends record $12bn in single day defending lira after Erdoğan rival’s arrest ft.com/content/5794ed…

Elon Musk's social media platform X has suspended several accounts belonging to opposition figures in Turkey amid widespread civil unrest in the country. politico.eu/article/musks-…

The Interior Ministry has officially declared the removal of Istanbul’s democratically elected mayor, Ekrem İmamoğlu, from office.

*** Turkish Capital Markets Board bans short-selling for a month, taking steps to ease share buy-backs *** 🚨 Bad news (albeit with an intention to reduce volatility) is that short-selling ban was one of the reasons why #MSCI warned Turkey about a potential downgrade from

'A threshold has been crossed': protesters rise up against Turkish President Recep Tayyip Erdoğan ft.com/content/65721c…

The Conference Board's survey follows UMich in pointing to rising inflation expectations among US consumers. Claire Jones wrote last week about how this presents a rising risk to the Federal Reserve -> ft.com/content/7637cd…

Foreign investors have pulled around $16bn from Turkish markets since Ekrem İmamoğlu was detained, per person familiar. FX intervention now c$27bn. More in today's Financial Times story -> ft.com/content/ffb003…

We now go the Turkish media’s live coverage of a mass rally, attended by 100s of thousands, held by the oppositon to protest Imamoglu’s arrest. CNNTurk: “Why Israel fears Turkey?” NTV: Myanmar quake Habertürk: urban renewal Ahaber: yummy treats for the Eid holiday

Oleg Gordievsky, KGB spy turned British agent, 1938-2025 via Financial Times on.ft.com/3FJ6X62

Goldman: "Higher tariffs are likely to boost consumer prices, and we have lifted our year-end 2025 core PCE inflation forecast by 0.5pp to 3.5% year-on-year." Core PCE was 2.8% in February.

Punchy from the Richmond Fed: “The proposed tariffs may raise input costs, disrupt supply chains and result in higher consumer prices, potentially outweighing any targeted employment gains in protected industries.” richmondfed.org/publications/r…

JPMorgan: "We estimate that today’s announced measures could boost PCE prices by 1-1.5% this year, and we believe the inflationary effects would mostly be realized in the middle quarters of the year."

Goldman: "The negative trends in US governance and institutions are eroding the exorbitant privilege long-enjoyed by US assets, and that is weighing on US asset returns and the dollar, and may continue to do so in the future unless reversed."

Istanbul's mayor Ekrem İmamoğlu writes in the Financial Times from prison, accusing President Recep Tayyip Erdoğan of causing "democratic decay" in Turkey. "Democratic institutions have eroded, dissent has been criminalised, and the judiciary has been weaponised." ft.com/content/4bf403…

NEW: Rogo, which makes a chatbot for investment banking analysts, sees its valuation jump from $80mn to $350mn in six months after latest funding round led by Thrive: ft.com/content/045dac…

Roberto Perli, a NY Fed official, is out with an interesting speech about the Treasury mkt ructions in early April: "The deterioration in Treasury market liquidity was real and significant." He says it was by some measures as bad or worse than the '23 regional banking crisis.

Kurdish militant group PKK says it will disband and end Turkey conflict on.ft.com/4kexLKo