Turkish central bank dismisses chief economist and department managers

Turkey’s central bank demoted at least nine high-ranking officials including chief economist Hakan Kara, two officials said. The bank’s heads of research, banking, risk management and institutional transformation are among those who are getting new roles. This comes after Recep Tayyip Erdogan fired the governor last month for not cutting rates fast enough. Source: Reuters, Bloomberg

Hedge Funds Turn Most Bearish Since 2016, Hone Long Stock Bets

Hedge funds are boosting bearish bets on U.S. stocks. The ratio of their long to short positions — net leverage — sank to the lowest level since February 2016, data compiled by Morgan Stanley showed. Gross leverage, a gauge of risk appetite that adds up both long and short positions, remained above the 75th percentile since 2010. That left the spread between gross and net leverage at a five-year high Source: Yahoo Finance

Salvini hints time is almost up for Italy’s government

Matteo Salvini increased pressure on Italy’s governing coalition, indicating that if his Five Star partners don’t yield to his policy demands he may soon dissolve their power-sharing arrangement. “I am not one for half measures, either we can do things full and well or I am not one who clings on to his seat,” the deputy premier said. He wants to proceed with deep tax cuts and investments even if he has to flout EU fiscal rules. Source: Bloomberg