Markets Remain Remarkably Resilient; Top Goldman Trader Says Geopolitics Aren't The Problem

The big picture, according to top Goldman Sachs traders Rich Privorotsky, is: 

Markets remain remarkably resilient...

• Geopolitics aren’t the problem ...US/China escalation dips are still for buying.

• Credit repricing limits upside but doesn’t break it.

• Weak cyc/def impulse