Amadeus Weekly 2022 W20

Fabian Scheler

May 20, 2022

Once a week we summarize the most important market developments and macroeconomic events in a brief chartbook.

2 Minute Read
Mankind invented a system to cope with the fact that we are so intrinsically lousy at manipulating numbers. It's called the graph.
Quick recap
  • Crypto assets stabilized this week, but this provided little relief as U.S. equities got hammered lower, with the S&P 500 losing 4% on Wednesday.
  • Nevertheless, implied volatility is almost unchanged compared to last week’s close.
  • Credit spreads surged across the board in Europe and the U.S. while the gold price inched higher and the
  • Treasury curve flattened as investors fled to safety.
  • Expectations that the ECB finally needs to move to taper inflation drove Bund yields higher and supported the EUR this week.
  • Quality, Growth and Momentum continued to underperform while a rebound in crude drove energy stocks higher again.
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