Strategy Report
Brace For RMB Depreciation
We believe Beijing views these US trade actions as nothing short of a declaration of economic war, not just a trade dispute. The US-China confrontation is set to escalate from here. Chinese authorities will allow the yuan to depreciate materially. Go short CNH against the US dollar. For EM and Asian equity portfolios, we are downgrading Chinese investable/offshore stocks from neutral to underweight.
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BCA Research | Emerging Markets Strategy
Critical input for global and EM investors as it provides global macro investment themes as well as recommendations for EM equities, currencies, and fixed income.
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