CIO urges market to pay attention to the renminbi
Knowledge of the Chinese consumer can help drive portfolios across sectors and countries – Bessemer Trust's Patterson
Market participants need to focus more closely on economic developments in China and their impact on the renminbi, as the Asian giant's influence on portfolios has grown exponentially over the last 10 years, said Rebecca Patterson, chief investment officer at Bessemer Trust.
"Everyone needs to watch the basket, and everyone needs to watch USD/CNY and USD/CNH, because it is going [to] give an indication of the pressure China is feeling and the implications for other Asian markets for commodity
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