The likelihood of a “full-blown trade war” next year between the U.S. and China has led JPMorgan to drop its bullish call on Chinese stocks.
Today, shares and currencies across Asia are down after a spike in U.S. Treasury yields, with China’s yuan falling below the 6.9 per dollar level in offshore trading. The yen, a haven currency, headed higher.
Elsewhere:
– Crude is trading near the highest level since 2014
– Aluminum in London rose the most since 2011
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