Ann: WAF Receives Strong Interest from Leading Debt Financiers, page-109

I don’t think Beijing will allow the rout to continue. They foreshadowed fiscal stimulus. Perhaps this will lend support to the Yuan and push up gold

With respect to inflation, I worry about the effect re-leveraging & stimulus will have on China’s economy. They really do need to keep inflation under control.

I like WAF and I see pathways to a rerate. But I find myself trawling through news & data in an sub-conscious effort to construct a positive narrative.

IMO I fell victim to confirmation bias & sunken cost fallacy some time ago. Recognising it as such doesn’t make it less so. A twig in a stream at this point