London trip notes
We were both in London from Tuesday through Friday to participate in a dinner event with some 20 experts/investors, which was hosted by TD Securities, organized jointly with Global Source Partners. During this time, we also got to visit several buy and sell-side financial firms touring separately, aside from the dinner event.
In this Sunday’s note, we focused on the trip. We begin by Atilla sharing the message he brought to London, and the reception and additional information he collected from his contacts, leaving the analysis of some other pressing issues such as the latest state of election polls and the ongoing discussion between Turkey and the US (on Syria and on the S-400 missile purchase) for later. Murat follows this up with his own summary, as well as a very short review of recent data releases.
Looking forward to the week, we shall see the February inflation print this Monday, and the CBRT will hold its regular MPC meeting on Wednesday. We expect no change on the latter, given Ankara’s desire to avoid currency volatility ahead of the local elections, while we broadly concur with the consensus on February CPI-inflation (Reuters, 0.4%, m/m), assuming that the newly established municipal vegetable markets will only have an indirect effect on food prices.
Let us take this opportunity to express our deep gratitude to members of TD Securities for organizing an outstanding group discussion, which allowed us to fine-tune and crystallize several ideas about the post-election era in Turkish politics and the economy, as well as for their kindness and friendship.
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