Turkey Shock-waves, China Rough Patch, Trade Weight: Eco Day

(Bloomberg) -- Welcome to Tuesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• The Turkey shock-waves continue to be felt across the global economy, with Argentina boosting its world-high interest rates, the European Union voicing worry over its banks, and debt holders across emerging markets on guard
• Hold the phone. South Africa says its rand plunge Monday is but a blip, with Turkey to blame, and that inflation is still the focus
• Hitting the brakes. China’s growth momentum took a pause amid trade-war jitters and its own campaign to reign in debt, and Bloomberg Economics sees more policy support after the sour data
• Downgrade. The Congressional Budget Office cut its U.S. growth forecast on the trade tensions
• Redrawing plans. Russia is counting on state-led investment to sustain economic growth as sanctions squeeze consumers further

©2018 Bloomberg L.P.