Todd Mariano: Turkey Greater Risk than North Korea

With geopolitical uncertainties injecting more volatility into the markets, Financial Sense Newshour sat down with Todd Mariano at Renaissance Macro to get his thoughts on North Korea and other hot spots around the globe, including Turkey, which, he said, is one of the greatest and overlooked concerns right now.
Here’s what he had to say in our recent podcast, which aired Saturday on our site and on iTunes (see Art Hill on Technicals; Todd Mariano on N. Korea, China, and Geopolitics for audio).
Is Nuclear War Imminent?
The short answer is that no, it isn’t, believes Mariano.
What we’re observing is that markets are reacting to uncertainty, specifically due to the shifting approach Washington is using to engage with North Korea, he noted. However, the situation really hasn’t changed all that much from a policy perspective, even under the new administration in Washington.
‘What markets are really reacting to amounts to headline risk because of the comments that the president made,’ he said. ‘The way I think this goes is certainly not a preemptive strike by North Korea. No one understands better than the North Korean military and Kim Jong Un that a preemptive strike coming from them would spell the end of the regime.’

This post was published at FinancialSense on 08/15/2017.