Loading ...Gold Jumps As China Devalues Yuan By Most In 2 Months, “Boosts Reforms” Of Corporate Bond Bubble
Submitted by Tyler Durden on 10/13/2015 22:35 -0400
AsiaPac stocks are extending losses in early trading asit appears our fears about the Chinese coporate bond market bubble are also on the minds of Chinese regulators as they look to “boost reforms.” After the PBOC has fixed the Yuan stronger for 8 straight days, the onshore and offshore Yuan has weakened appreciably in the last 24 hours and PBOC has devalued Yuan by 177pips – the biggest in 2 months (as PBOC researchers push to “speed up Yuan internationalization” and implicitly inclusion in the SDR basket).
Gold jumped on the Yuan devaluation…
