Carmignac’s Medecin says Markets Are Still Expensive
China’s central bank has stepped up efforts to restore stability to the nation’s currency and economy, with Governor Zhou Xiaochuan breaking his long silence to argue there’s no basis for continued yuan depreciation. Chinese financial markets prepare to reopen Monday after the week-long Lunar New Year holiday. The weakening exchange rate and declining Chinese share markets have fuelled global turmoil and helped send world stocks to their lowest levels in more than two years. Carmignac Investment Committee Member Jean Medecin discusses with Bloomberg’s “On the Move” host Guy Johnson.