The Chinese yuan is expected to depreciate against the strong U.S. dollar, raising concerns about the extent of the currency’s potential decline and its global impact on export competitiveness and Chinese economic growth. Market shifts following Donald Trump’s election victory have already led to a 3% drop in the offshore yuan and a 16-month low for the onshore yuan, with investors wary of China’s economic challenges and a possible rise in U.S. interest rates. As U.S. Treasury yields rise and the dollar strengthens, the Federal Reserve’s reduced rate cut expectations have widened the yield gap between U.S. and Chinese bonds, driving the dollar up and the yuan down.
Full Article
2 more arrested in connection with death of Sam Nordquist, transgender man tortured and killed in New York
Two more suspects, Kimberly L. Sochia and Thomas G. Eaves, were charged with second degree murder in connection with the death of Sam Nordquist, a transgender man who was tortured and killed in New York. State police announced their arrests, bringing the total number of people charged to seven. Nordquist's mother criticized local authorities for not taking action earlier, revealing that her son had expressed a desire to escape an abusive situation before his death....
Read more