Q1 2022

Summary For the second time in two years, the global economy was thrust into a crisis, first from a pandemic and then from Russia’s invasion of Ukraine. Commodity prices rose substantially as already-strained supply chains were further disrupted and the world tried to realign itself to friendly exporters. Even though the Russian ruble initially collapsed,…

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Q4 2021

Summary ​​Equity markets delivered positive returns in the final quarter while fixed income returns were flat. Due to an improving labor market and stubbornly high inflation levels, policymakers are set to reduce the unprecedented fiscal stimulus and unsustainable levels of monetary policy accommodation. ​​​​​​ Inflation became officially politicized when Democratic Senator Joe Manchin of West Virginia cited…

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