📊 Sweden Bottoms Peers In Economic Board: Cable FX Macro

**As seen in Macro Walk report 04/21/23, subscribe at cablefxm.co.uk/reports

• The economic board found in our Macro Walk report showed Sweden bottoming peers in GDP, CPI, unemployment and retail sales. This comparison comes to build recent talk on EUR/SEK divergence from volatility benchmarks and the broad risk tone. With a diminished rate advantage and a gloomier economic outlook, it is harder to find incentives to SEK historically high-beta

• So far, the Sweden economy is the only one contracting in our watch list, this is paired with double-digit inflation. While the U.K. follows closely with headline prices rising at 10.1% Y/y, its unemployment rate is relatively stable at 3.8% vs Sweden's 8.2%

• On a separate note, last week saw muted equity benchmarks except for Norway and Switzerland, both moving by more than 1.0%. The U.S. 10-year Treasury yield increased by 5 basis points, Canadian rates were bid as the benchmark 10-year yield fell 10.0 basis points