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a 25bp rise in the USA? are you serious? they're not on Cloud 9 yet - more like 10 basis points. geez, only the RBA seem to be stuck with imperialistic quarter percenters.

People move into cash from equities with higher rates. Chinese won't be happy, their $1.3t in US bonds might have been worth something, but clearly if US IRs go up, that will wipe any gain made and they can default by default without defaulting.

hardly. currency wars are here for the medium term. how does a country like japan raise rates? new zealand? south korea? exports for SK are dropping like Fe prices - how will making products priced in their currency LESS affordable help them? it's all pish and wind.