Rate cuts, trade spats place instos on back foot

Asset owners should take a more conservative approach to portfolios, working to take risk off the table as the fallout of the US-China trade spat ripple across the world, argue some investment specialists. Last week China let the tightly-controlled renminbi weaken beyond the psycologically important 7-level mark versus the US dollar for the first time in more than a decade just after President Donald Trump threatened tariffs on an additional $300 billion worth of Chinese goods. Th…