All FX Forecasts Are Out The Window, Kalen Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 10 August 2018
⏱️ 35 minutes
🧾️ Download transcript
Summary
Marc Chandler, Brown Brothers Harriman Head of Currency, lays out different options Turkey has to save the lira. Teresa Goody, Former SEC Attorney and The Goody Group Founder & CEO, suggests Elon Musk goes forward with transparency. Megan Greene, Manulife Asset Management Managing Director & Chief Economist, says Turkey's new Finance Minister is a key candidate for change. Phoenix Kalen, Societe Generale Emerging Markets Strategy Director, says that on a day like this, all forecasts are out the window. And Kit Juckes, Societe Generale Global Strategist, notes this is a biggest single day move in a single currency since 2008.
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| 0:00.0 | Do you love Elon Musk? Do you hate Elon Musk? Do you have no idea what to think about Elon Musk? |
| 0:09.0 | Then we have just a show for you. He's become even more larger than life. |
| 0:14.4 | Buying Twitter doesn't get us closer to Mars. They are like really close to the edge of like |
| 0:18.8 | everything falling apart. Like oh Elon I, put a chip in my brain. |
| 0:23.0 | Each week on this podcast will break down, analyze, and debate the most important stories on Musk and his empire. |
| 0:30.0 | It's all one big universe. You just work for Elon Inc. From Bloomberg Business Week, this is Elon Inc. |
| 0:37.0 | listen wherever you get your podcasts. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene. |
| 0:55.6 | Daily, we bring you insight from the best in economics, finance, investment, |
| 1:00.1 | and international relations. find Bloomberg surveillance on Apple |
| 1:04.3 | podcasts, SoundCloud Bloomberg.com and of course on the Bloomberg. It's all been about Turkey and the President's silence this week, amid the |
| 1:20.7 | market bloodbath was remarkable and so was his message when he |
| 1:24.6 | finally resurfaced president Erdogan saying don't forget this if they have got |
| 1:28.7 | dollars we have got our people our right our Allah state media quoting the president as saying that coming |
| 1:34.8 | from president erdawan overnight and driving some significant weakness and a |
| 1:39.4 | fragile global market joining us to discuss is Mark Chandler, Brown Brothers Harriman, head of currency. |
| 1:45.0 | Mark, good morning to you. |
| 1:46.0 | What a morning. |
| 1:47.0 | Your thoughts on Turkey, please. |
| 1:48.0 | Yeah, so I think that there's really, Turkey's in between a rock and a hard place. |
| 1:52.0 | I think there's three possible |
| 1:54.0 | courses of action for them and none of them are very good. First, Turkey could make a bold announcement and |
| 2:00.4 | that would be to regain investor confidence has got to return to the |
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