Chinese stocks listed in Hong Kong slumped following reports that President-elect Donald Trump may elevate officials with a history of criticizing Beijing to key posts. Currency traders have placed new bets that the euro and yuan will be hardest hit as Trump's proposed tariff policies are expected to result in a stronger US dollar. The Chinese yuan hit its weakest level since early August, while the US dollar reached a four-month high. The 10Y Term Premium indicates that the Trump Trade was a buy the rumor, sell the fact for bonds, with bonds now focusing on Treasury Secretary and GOP leaders for clues on policy priorities in the first 100 days.