– A more traditional, disinflationary risk-off week with a rally in Treasuries and a selloff in global risk assets.
– Consumer staples was the only sector to finish the week above water.
– China’s stock market was flat, and the country has started easing financial conditions.
– Carnage in crypto markets – TerraUSD declined over 90% and its reserve asset LUNA lost all of its value.
![World Wrap](https://www.cypresscapital.com/wp-content/uploads/Research/Reports/20220516-World-Wrap-pdf.png)