director of global risk analysis at control risks and i asked her how much damage to the u.s. could actually do to the turkish economy. well is any sanctions usually from the point of view of political impacts they they produce this is the rallying around the flag effect so even though the. electoral base has been suffering a lot in the recent months some devaluation of the new year are in generally from rising prices but this riding on the flag effect is going to increase at least in the short term or dance popularity and help him to put across the message that is it wasn't his policies that are responsible for economic slowdown but the conspiracy from the west but it all depends how long those sanctions are going to continue clearly turkey can withstand in the short term the economic impact but the sanctions if sanctions are going to deepen and expand over significant period of time. or political base is going to suffer and his political popularity is going to start to decrease. a joint report by a german newspaper german public broadcaster w d r in the new york times on dub

his director of global risk analysis consultancy risk. how much damage can the u.s. do to the turkish economy. the turkish economy has been going for a period of rather prolong the cannot make turbulence following the introduction of the previous u.s. sanctions and there actually has been coming out of the period of recession and it covering serious economic fundamentals today look at much better than they looked in 2018 when the 1st u.s. sanctions were imposed and so far we've seen the rather limited reaction from the markets you know partly because the 1st set of the sanctions that was announced yesterday actually are rather limited sanctions as you mentioned they're primarily focused on individuals from free ministries but what i think is very important for an economy is that uncertainty and this is why many corporates invest this are now putting their plans on hold but also one has to remember that turkey is dependent on the inflow of financial resources from the outside the finance its current account deficit and therefore the financial institutions are going to

analysis when we are in such unprecedented times. by that, i mean in terms of negative yield globally, and what that does to your risk-reward balance inms of investing into equities. in that sense, it can certainly hold up for some considerable period given the negative yields, but as i mentioned a moment ago, the positive for u.s. equities is perhaps foreign earnings next year that might improve with the dollar weakening, but the domestic side of things we think could be more of a challenge now that some of that text stimulus is going to fade from the economy in 2020. guy: stoxx 600 in europe just a few points away from that 400 line we've been watching carefully. think you for joining us on a friday, derek halpenny, mufg head of global markets research. coming up for you, we are going to talk barclays. headwinds in 2020. ceo jes staley talked about two big challenges the bank has to weather next year. that's coming up. this is bloomberg. ♪ guy: good news out of the stock market. we are just seeing the s&p going through its record high. high.he closing we will see where the s&p actually ends up closing. we will get more details in ju

instant analysis all of it when squawk returns in a moment cme group can help you navigate risks and capture opportunities. we enable you to reach global how the world advances. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >>> all right. welcome back to "squawk box," everyone we're just a few seconds away from the weekly jobless claims and cpi numbers. futures ahead of all of this future down by 60 points s&p off by 6 let's get to rick santelli standing by in chicago >> yes, let's see if it's as cool as ppi. no, it is not. but still moderate, unchanged on september headline consumer price index. we are expecting a 10th higher and if you strip out the all-important food and energy, it's also a bit inflation-like 1/10, half of expectations no revisions, up 1/10 and 3/10 respectively let's go year over year, up 1.7. maybe a little cooler. 2.4 oncor year over year, and that is a number that continues to be very solid above the 2% level. and if we look at real average weekly earnings for september, they were up 9/10 versus our last look up 1.1, if we look up hourly earnings year over year, up 1.2 definitely up light. jobless claims, you've been waiting patiently. we