The slowing of Chinese growth and the rout in commodity currencies

Today’s commentary
I am less and less concerned about the eurozone periphery over the medium term because recovery in Europe looks poised to last. On the other hand, the slowdown in China could have wide-ranging consequences, particularly for countries dependent on commodities for growth. The currencies of commodity producers are declining, making interest rate policy trickier as their economies slow.
Let me start off with the good news here - and that’s in Europe. Spain, the market’s new darl...


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