BRICS – All Bark (with the US Dollar), No Bite!
Deer Point Macro sits down with Blake Morrow to discuss China in the news as of lately to discuss what is happening with Evergrande. He points out that this has been a concern for the market for the last two years and that it shouldn’t affect the market directly. However, it is weighing on consumer confidence which in turn is weighing on the Chinese economy.
He also discusses what China may be doing in the month ahead to support its economy as well. Deer Point Macro also talks about the BRICS meeting last week and how they will continue to invoice in US Dollars, and that is the key takeaway moving forward. Moving away from the US Dollar is not prohibitive at this point, and is just “talk.”
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