Short US assets now... and go long China: Analyst

Tightening financial conditions in the U.S. will lead to an acute bout of asset price deflation in the U.S. next year, according to Stuart Oakley, the managing director of global emerging markets at Nomura.

"I think you should be short U.S. assets and by that I mean all assets: Equities, credit, bonds" he told CNBC Monday, implying traders should take bets that asset prices will deteriorate in the U.S. in 2016.

He added that investors should be "long" on North Asian equities, adding that he expected Chinese assets to "outperform everything in the emerging market universe over the next few years."