Excerpt from Yahoo Finance quoting DataTrek’s Nick Colas:
…. “It may not seem like it now, but China’s falling yuan (CNHUSD=X) could eventually strengthen U.S. stocks, according to one strategist.
“First, it will hurt all risk assets because of the shock of seeing such a large devaluation to new yuan lows,” said Nick Colas, co-founder of DataTrek Research, in an email to Yahoo Finance”….
Read the full article and the rest of Nick’s quotes here on Yahoo Finance!