Think pessimism about the US and commodities is overdone? Here's the trade for you.
There sure is a lot of pessimism out there when it comes to commodities and the US economy. Rebecca Patterson, chief markets strategist for J.P. Morgan Asset Management, Institutional, thinks it's overdone.
"Longer term I think the U.S. is going to struggle, especially as fiscal policy tightens," Patterson told CNBC's Scott Wapner, and that will hurt Canada too. But for now, given decent nonfarm payrolls, car sales, and retail sales, "Indications are good."