Mobius Is Bullish on China as an Unlikely Haven From Trump
- Yuan is higher versus basket of peers since last week’s win
- Shanghai Composite Index enters bull market, bonds stable
Mobius: I Believe Trump Wants Higher Interest Rates
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China’s financial markets are enduring Donald Trump’s victory better than most.
Since last week’s shock result, the nation’s benchmark stock index has rallied into a bull market and the yuan -- while falling to a seven-year low against the dollar -- has risen against a basket of peers. The nine basis point increase in China’s 10-year sovereign debt yield is dwarfed by the 33 basis point jump by U.S. Treasury yields.