Turkey Is Not a Market Worth Touching Right Now, State Street's Graf Says

The video discusses Turkey's current economic challenges, highlighting liquidity problems and market volatility, drawing parallels with Brexit. It advises caution in engaging with the Turkish market due to unpredictable currency movements. The video also explores the global trend of low volatility across asset classes, attributing it to central banks' forward guidance and rate expectations management. The shift from rate hikes to cuts by major central banks has compressed volatility, moving away from normalization.

What role do central banks play in compressing rate expectations according to the speaker?

What does the speaker suggest about the future of volatility in financial markets?