CHART OF THE DAY: Central Banks Crashing Into #Quad4

Tightening into a Global #Quad4 Recession blows up the capital markets bubbles that they perpetuated.

Instead of what someone peacocking on CNBC has to say about that today, let’s listen to what one of the Top Economists in the world thinks – The Global Currency Market:

1. GBP/USD continued to crash, down another -4.9% last week to -19.8% YTD 
2. Swedish Krone got smoked for a -4.9% decline vs. USD last week to -9.9% in the last 3 months
3. New Zealand Kiwi got crushed for a -4.1% decline vs. USD last week to -8.4% in the last 3 months

Oh, the bravery of the central bankers in Sweden! They raised by 100 basis points to “fight inflation”… and the world gave The People of Sweden another -5% on the purchasing power of their hard earned currency.