In a long engagement, Turkey and the IMF have been negotiating a stand-by package for well over a year. Today Turkey announced that there would be no marriage after all--no deal. The impasse appeared to be over municipal expenditures. PM Erdogan's government had previously negotiated two programs with the IMF since coming to power in 2002.

There is disappointment in some quarters of the end of the protracted talks as some suggest the talks themselves had lent support to the lira and the bond market. As noted yesterday, the poor inflation news at the end of last week, coupled with the heightened political anxiety and withholding tax uncertainty have weighed on Turkish bonds. Yields yesterday rose to their highest for the year amid a lukewarm reception to the bond auction and there is follow through selling today.

At the end of last week, Turkey reported that its CPI rose to 10.1% in February form 8.2% in January. This, coupled with evidence that an economic recovery is gaining traction, has renewed ideas that the central bank should hike rates before too long, even if not at the next meeting on March 18th. The base rate stands at 6.5%.

What a difference a year makes. At this time in 2009, it seemed that the markets and exchange traded funds couldn’t sink much further. Little did we know, a reprieve was to come. Here are eight of the strongest ETFs since that day.

Market Vectors Coal ETF (NYSEArca: KOL) is up 224.9% off the low. Oil prices topping off in the low $80 range helped boost coal plays since March 9. Coal prices had an assist in recent months as those in the colder climes crank up the heat and push demand higher, eating into what had been a surplus. And last year, China shifted from being a coal exporter to an importer, shifting the dynamics of pricing.