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China could be important to your clients' retirement. Without the Chinese stepping up to buy Western assets, markets would go down as investors unloaded assets to finance their retirement. Siegel reflects on the importance of revaluing the yuan and the "cross-movements of capital" from China to the West.
The People's Bank of China seeks to dampen speculation it'll be revaluing again anytime soon.
At this time, the modest yuan revaluation is unlikely to have an immediate or large effect on U.S. markets. Future Fed activity and China's own economic growth—in combination with the revaluation—will be more instrumental over time.
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