EGRNF - And In Walks The Bear

• Last week, SEC Chairman Gary Gensler refused to rule out regulating stablecoins as securities, during a hearing before the Senate Banking Committee. I think regulations are coming, and that they will arrive relatively soon and will markedly and drastically change the markets.
• The crisis engulfing Evergrande is the greatest test yet of President Xi Jinping’s effort to reform the Chinese economy and the most significant test that the country’s financial system has faced in many years.
• There is talk of a combined spending and debt ceiling package that might pass in the House. So far, the markets seem to be largely ignoring this process, but I think possibly much more attention is going to be paid to all of this soon.

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