Amadeus Weekly 2022 W23

Fabian Scheler

June 10, 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.

Accelerating U.S. inflation and a hawkish ECB resulted in a sharp risk-off move towards the end of the week.
U.S. and European stocks fell in tandem as benchmark yields, and credit spread surged. Gold offered only a little protection, but Chinese stocks became a bright spot amid the turmoil despite a renewed commitment to Zero-Covid.
Interestingly, in Europe, there was little dispersion between style factors as Value and Growth performed equally poorly despite another increase in oil prices and rising yields.
Meanwhile, western regulators’ scrutiny of ESG claims continues with the SEC investigating Goldman Sachs, looking for potential greenwashing activities.