This is a special edition of Macrovoises with hedge fund manager Eric Townsend.

The premier financial podcast targeting professional finance, high net worth individuals, family

offices, and other sophisticated investors.

Now for this special edition of Macrovoises, here's hedge fund manager Eric Townsend.

Macrovoises All Stars episode 44 was recorded on August 12, 2019.

I'm Eric Townsend.

All-Star Jeffrey Snyder, CIO from Alhambra Investments, is back with us this week.

Jeff prepared a fantastic slide deck that you're really going to want to download because

the entire interview is going to center on the discussion of the slides that that deck contains.

You'll find the download link on our homepage at macrovoises.com in the description of this article.

Jeff, we've had a whirlwind week in markets with the Fed rate cut followed by President

Trump's announcement of new China tariffs.

China's currency crossing seven RMB or CNY or Yuan, which are all almost the same thing

for the benefit of our listeners to the dollar.

So that caused everyone, I think, to think, well, Yuan crossing

seven to the US dollar.

That's kind of the Rubicon for that currency.

Many observers think that this is an intentional move on China's part, retaliation, if you will, for the tariffs.

And to provide stimulus for China's exporters.

And even the US Treasury labeled China a currency manipulator based on this reasoning.

Do you see this move as intentional retaliation for the tariffs?

Well, Eric, you know, that's what all the textbooks say.

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