1. Turkey is hot: Turkey's main Istanbul index is surging around 5% after the ruling AKP party won a surprise outright majority in parliamentary elections. The lira is also jumping versus the U.S. dollar.
"A period of prolonged political uncertainty has come to an end, hence the strong rally of the Turkish lira," explained Simon Smith, chief economist at FxPro.
Still, Turkey's economy remains vulnerable to any rise in U.S. interest rates because of its yawning current account deficit and some analysts say the gains may be short-lived.
Related: Fear & Greed Index