There are surely a lot more interesting and entertaining things to picture. EFF provides us with continuous opportunity to pick at the FOMC’s competence. Even LIBOR and the TED spread are back in play, a rise in both going back to May 29 and that massive, worldwide collateral call. Brazil’s central bank is paying through the nose just so that the real will decline slower.
Despite all that, and a lot more, if there is a chart that stands out this week it has to be the usual. We’ve been weirdly obsessive about China for half a decade because for a half a decade that’s where everything that has mattered has mattered most/first. CNY breaks 6.50 to the downside today, an accelerated slide. That means something, I think, for a lot as to what might be still coming.
