AM Brew, May 11th 2022

Futures are quite healthy across the board as of 10:20 am London time - all US indices are up 1% to 1.5%. Other risk & non-risk assets are also participating: crude up 3.5% and gold is up 0.5%. More important is what is going on in Crypto: TerraUSD has dropped approximately 50% today and is trading well below $0.50. TerraUSD's 7 day waterfall is breath-…