-
Virus Forces Nomura to Rethink Bets on Low-Yielding Currencies
The rapidly-spreading coronavirus has prompted Nomura Holdings Inc. to flip some of its top currency calls for 2020 just a month into the year. Japan’s biggest securities firm recommends long-dollar positions against Thailand’s baht and the Chinese yuan. Back in December, shorting the greenback versus these low-yielding Asian currencies was among its top trades for this year. Nomura is also advising selling the Singapore dollar against a basket of its trading partners. The shift comes as investor optimism over improving U.S.-China trade relations and a nascent recovery in global growth has been replaced by fears ... (full story)