Politics, Geopolitics & Conflict
The U.S. Fed insists that the financial sector is “sound and resilient”, despite the banking crises that started with the collapse of two regional U.S. banks, was followed by a share crash and buyout bid for Credit Suisse, and then proceeded to put major pressure on other small U.S. banks. The Fed then raised interest rates 25 basis points on Wednesday, a step back from the earlier string of 75-basis-point hikes.
The first agreement between Saudi Arabia and Iran after restoring diplomatic ties earlier this month was with regard to Yemen. There was some hope that this rapprochement between Riyadh and Tehran would ease war pressures in their proxy battlefield of Yemen; however, at this point, even a commitment from Iran to stop arming the Houthis and an agreement by the Saudis to withdraw would not necessarily spell peace for Yemen. Wednesday’s violence was a prime example, with ten soldiers killed in renewed fighting in the oil-rich Marin province.
Opinion polls are not currently favoring Turkish President Erdogan, with the numbers showing that opposition candidate Kemal K?l?cdaroglu is leading by over 10 percentage points ahead of the May 14 early election. However, even more significantly, the pro-Kurdish Peoples’ Democratic Party (HDP) and allies will not have a candidate in the May 14th election. For Erdogan, this is bad news because it gives the opposition a greater chance of uniting and renders…