Climb the Wall of Worry

Embracing the fake economy pays, clearly.


  • Copper’s ~15% meltup into Evergrande’s coming default tells you everything you need to know about whether or not China's “contagion” may spread.

  • Outside Asia, rate benchmarks and spreads remain muted.

  • In U.S. markets, both Materials and Industrials equities poked into bullish territory on Friday and have rallied further during this morning’s premarket session.

  • Oil and Uranium—my favorite commodity plays—continue their ascent.