First Quarter | 2022

2022 started with a difficult and volatile period for financial markets globally. The long rally in equities, since the COVID-19 recession, came under stress with central banks turning more hawkish towards inflation. This was compounded by the uncertainties caused by the war in Ukraine including the resulting impact on commodity markets. While there was some variability across regions, many global equity indices entered correction territory during the quarter, although by the end of the period, most markets had partially recovered from their lows.

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