Europe: Domestic backdrop & China impact

By Rob Burnett, Head of European Equities

In recent weeks equities have been buffeted by two shocks occurring at the same time: China’s devaluation of the renminbi and the prospect of the US Federal Reserve (Fed) raising interest rates. The market is not comfortable with the Fed raising rates at the same time that China is slowing down and some stability in Chinese data will likely be needed before the Fed acts.

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