Chart of the Week; Back to Boring

This is a syndicated repost courtesy of Alhambra Investments. To view original, click here. Reposted with permission.

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.

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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.

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