Economics
Bank of America: The 'Great Divorce' Between the World's Two Largest Economies Will Drive Currency and Rates Markets in 2016
The "marriage of convenience" is over.
Can China’s Yuan Dethrone the U.S. Dollar?
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Don't sleep on the prospect of more currency depreciation from the People's Bank of China, warns Bank of America Merrill Lynch, calling for a "great divorce" between the U.S. and the world's second-largest economy in the coming year.
David Woo, head of global rates and currencies research, laid out the case for the team's favorite trade of 2016—buy USDCNH six-month forwards—in his preview for the year ahead: