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One of my favorite downtown sandwich shops makes a dynamite “turkey special”.  For those of you that don’t know what this is, a turkey special is roasted turkey topped with Swiss cheese and coleslaw.  I prefer mine on rye bread.  Yes, this large sandwich becomes a messy monster to eat but it can really hit the spot on those hungry days.  We have a different type of “Turkey Special” going on in the investment world today.

Turkey, the nation, has been in the news.  Turkey is where “east meets west”, as the isthmus bridges Asia with Europe in the area known as the Bosporous.  As a country, Turkey has major international business interests, a vibrant university system, a rich cultural history, a strong religious system, and a parliamentary democracy that is undergoing stress.  Turkey is not part of the European Union, but they are part of NATO.  Much has changed in this beautiful nation with all that has been going on in Europe, and today Turkey is different than twenty years ago.  The change presents a challenge to global markets.

The attached article from our friends at Nuveen captures this story in much greater detail.  I encourage you to take a few minutes and learn more about what is going on in Turkey.  Yes, the Turkey Special is a big, messy thing to digest.

Turkish lira crisis unlikely to spark a contagion

Ralph McDevitt
August 28, 2018

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