You are here

Some of the biggest fund managers expect yuan devaluation

BT_20151124_DNYUAN24VX5Y_1990001.jpg
The money managers are losing faith in China's ability to revive its economy after the surprise 1.9 per cent currency devaluation in August and global market rout that followed.

New York

DAVID Tepper says a yuan devaluation may be coming in China. John Burbank warns that a hard landing there could spark a global recession.

Mr Tepper, the billionaire owner of Appaloosa Management, said last week at the Robin Hood Investor's Conference that the Chinese yuan