Upfront

摘要

In a year dominated by political events, none was more dramatic than the attempted coup in Turkey just over a week ago. Even seasoned Turkey-watchers were taken aback. In most other instances this year when political risk has threatened to overwhelm markets, accommodative monetary policy has come to the rescue. The UK's Brexit vote, the prospect of a Trump presidency and the threat of populist parties gaining greater influence over policy-making in fragile European economies have all failed to burst the undoubted bubble we're seeing in bond and equity markets.