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Chinese sentiment shift: “People across the nation, including the entire bureaucratic elite, feel increasing uncertainty about the direction of the country and a deep sense of personal insecurity. Rising anxiety has spread into a degree of panic.”
This week is showing us once again exogenous forces can spill into other markets. Contagion from the Thai baht decline in 1997 led to a global crisis….the collapse in the Turkish Lira (and problems in Italy, Argentina, India, and trade war rumblings) will run a similar course.
— Scott Minerd (@ScottMinerd) August 14, 2018