Yuan Devaluation Debate Surfaces as Traders Weigh Next FX Shock [BNN Bloomberg (Canada)]
Jefferies Financial Group Inc. (JEF)
Last jefferies financial group inc. earnings: 10/25 04:42 pm
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Source: BNN Bloomberg
Supporters of a sharp currency depreciation say it would allow Beijing boost exports and give the central bank room to cut interest rates. Doubters argue it would only lead to a feedback loop of capital outflows and further yuan declines with the potential to destabilize the global currency market. Though a minority view, it's attracting attention as China digs deeper into its toolkit to stimulate an economy and win over investors disappointed by a piecemeal approach to monetary and fiscal support. It's a controversial option that hasn't been used since the shock devaluation in 2015, which hammered yuan assets and evolved into a crisis of confidence in China's ability to control markets. “A one time meaningful devaluation is a much more effective strategy,” said Bob Elliott, chief executive officer of Unlimited Funds Inc. “The optimal move would be a depreciation to a level where the currency looks cheap and then you hold the line.” In Elliott's devaluation scenario the yuan co
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JEF
Earnings
- 3/27/24 - Miss
JEF
Sec Filings
- 5/16/24 - Form 424B2
- 5/14/24 - Form 4
- 5/14/24 - Form 144
- JEF's page on the SEC website