According to Bloomberg, Bank of America says a ‘great divorce’ between the economies of the U.S. and China will fuel global currency and rates markets in 2016.
China’s Rate Cut Fails to Stop $5 Trillion Rout
August 26, 2015
Bloomberg reported that China’s stocks extended the steepest five-day drop since 1996 in volatile trading as lower interest rates failed to halt a $5 trillion rout.
Bloomberg: China Cuts Interest Rates in Bid to Stem Rout
August 25, 2015
Bloomberg reported that China’s central bank cut interest rates for the fifth time since November and lowered the amount of cash banks must set aside, stepping up efforts to stem the biggest stock market rout since 1996.
