Why a US-China Currency War Seems Unlikely

The Federal Reserve is unlikely to risk credibility for political gain.

To view this email as a web page. click here     Why a US-China Currency War Seems Unlikely     After China devaluated the yuan, some people are calling for the Federal Reserve to do the same to the dollar. But currency manipulation would likely backfire, inviting inflation and ruining the Fed's hard-won credibility.   READ THE FULL STORY     The Puzzling Decline of Bond Yields Bond yields can be a weathervane for economic health, so why, during this time of exceptional growth, do they seem to be pointing in the opposite direction? LISTEN AND SUBSCRIBE      Unsubscribe | Privacy Policy | Website  JPMorgan Chase, 10 S. Dearborn, Mail Code: IL1-0723, Commercial Banking Marketing, Chicago, IL 60603-3403, United States. The material contained herein is intended as a general market commentary, in no way constitutes J.P. Morgan research and should not be treated as such. Further, the information and any views contained herein may differ from that contained in J.P. Morgan research reports. ABOUT THIS MESSAGE: J.P. Morgan, Chase and JPMorgan Chase are marketing names for certain businesses of JPMorgan Chase & Co. and its subsidiaries worldwide. Products and services may be provided by commercial bank affiliates, securities affiliates or other JPMC affiliates or entities. © 2019 JPMorgan Chase & Co. All rights reserved.