Did China's Devaluation Crush Yellen's Rate Hike Strategy | Zero Hedge

Did China's Devaluation Crush Yellen's Rate Hike Strategy | Zero Hedge:



"We believe the Fed will be persuaded to consider the global picture and the beneficial second-order implications of a dominant currency on its formal domestic mandate, that being: in a global economy with declining output growth and zero-bound sovereign interest rates, an untouchable U.S. dollar would attract global wealth. U.S. bank deposits would increase regardless of deposit rates, U.S. Treasuries would be bid regardless of interest rates, and U.S. equity markets would see relative inflows regardless of potential economic slowing."



'via Blog this'