Crumbs

• another bullish note on natural gas
• China equities look over bought. The market is heavily manipulated, and it’s not easy to short, but maybe it’s run out of steam for a bit,
• 
• Yield Curve Control is coming. But the Fed will not tell you it’s arrived until after the fact.

Wrap

Generally, risk on, but neither inflationary or deflationary.

• NDX flat,
• SPX etc. up, ~1%,
• Currencies flat,
• Bitcoin up 2.7%,
• most equity markets up,
• the recent collapse in Chinese equities reversed, slightly,
• most commodities up, apart from a few agricultural,
• govt. bonds are reasonably flat,