Originally published August 5, 2019
By Seema Shah, Chief Strategist, Principal Global Investors
This morning, investors woke to a significant escalation in the U.S./China trade tensions. Following President Donald Trump's abrupt decision on Thursday to propose 10% tariffs on another $300B of Chinese imports from September 1, China's yuan has breached the RMB 7 per dollar threshold for the first time in 11 years. This was followed by reports that the Chinese government has asked its state-owned enterprises to suspend purchases of U.S. agricultural products.
Global equities have tumbled, global bond yields have rallied with