Private equity underwriters (PEU's) rush to build yuan denominated funds. The list includes the Carlyle Group, Blackstone, KKR and Macquarie. WSJ reported:
The flurry of announcements reflects a sense of urgency among the foreign firms.What does David Rubenstein know? Will China soon float the yuan? Is the dollar headed for an implosion? Will a new Fed chair impact the dollar's value? Are rich Chinese investors hesitant to invest in dollar denominations?
Only, the prescient Mr. Rubenstein can answer. Did it come from a private session with Tim Geithner or Larry Summers, maybe a dinner with Rahm Emanuel?
