Now we know the #fed is on a mission to fight inflation, and for now, regardless of the consequences. Shockwaves are reaching Europe Japan and crypto, where it seems capitulation has began. Emergency meeting of the #ecb, to deal with periphery bonds yield spikes, the upper bound in 10 year JGBs being breached, and #snb increasing official rates by 50 bps, are a few of the consequences. In a global interconnected world the butterfly effect keeps playing out. When we aggregate all those factors into money being lost, in stocks and bonds, $15Tn of wealth have been lost so far since the last market peak. To put it in perspective that’s about 2/3rds of US gdp. Pain keeps building up.
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Source: Bespoke investment
