Said Haidar on Federal Reserve
From Erdogan does not look like he's backing down, could lead to Turkey's increase in loans says Haidar C · · CNBCTelevision
“You're coming up to the next Fed meeting — they're going to raise rates; the market has been unwilling to price in more rate hikes until you get closer, so there will be more rate hikes starting to get priced in the next month and that'll just put more pressure probably on emerging currencies.”
On , Said Haidar, Founder & CEO at Haidar Capital, spoke about Federal Reserve during Erdogan does not look like he's backing down, could lead to Turkey's increase in loans says Haidar C on CNBCTelevision.
About Said Haidar
In August 2018, Said Haidar, founder and CEO of Haidar Capital, commented on the financial impact of political tensions in Turkey. He stated that Turkish President Erdogan did not appear to be backing down, and that the situation could lead to an increase in non-performing loans and a flow-through effect on the European banking systemched. Haidar identified Italy and Spain as the most exposed countries due to their trade links and ownership of Turkish banks. He also said that the Trump administration's quick imposition of sanctions on Turkey and Russia served as a warning to China. Haidar argued that the divergence between strong US growth and tepid global growth was causing emerging markets to underperform US equities. He suggested that upcoming Federal Reserve rate hikes would put further pressure on emerging currencies. While acknowledging that the short-term outlook for emerging markets could worsen, Haidar noted that these markets had recovered from previous crises in 2013 and 2015, and that from a valuation standpoint, emerging markets appeared cheap relative to the US.