Frequent elections and political instability, which could both continue following Turkey’s upcoming referendum, are weighing on investors, a Bloomberg piece states. A “yes” vote in favor of giving Erdogan an executive presidency may produce a relief rally, but the rally could be short lived and Erdogan could go for snap elections to strengthen the ruling AKP’s grip over the Turkish parliament. If “no” wins, Erdogan could also go for snap elections in attempt to get the constitutional changes approved merely by a parliamentary vote. Hence, investors see little upside regardless of the outcome of the April 16 referendum, the Bloomberg article suggests.