Amadeus Weekly 2022 W3

Fabian Scheler

January 22, 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
  • Equity markets retraced during this volatile week with the exception of China.
  • While the first weeks of the year were characterized by strong style and sector rotation towards cyclicals and value, this week brought a pronounced risk-off move.
  • Government bond yields and crude stabilized, while credit spreads widened
  • The week also brought a pronounced sell-off in crypto-assets, with major currencies experiencing double-digit losses.
  • Next week will provide further indication of the future path of U.S. monetary policy as the FOMC will hold its press conference.
Chart of the week
China’s PBOC cut key lending rates this week in an attempt to lower borrowing costs and take pressure off the property sector. The decision was well-received by the country’s equity market.
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