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.

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.