Overview Against a backdrop of high inflation, rising rates, growing recession concerns and an acrimonious geo-political backdrop, the S&P 500 had its worst start to the year since 1962. The S&P 500 was down -20% through the first half of the year; the official edge of a bear market. This is not a particularly uncommon [...]
Overview 2022 is shaping up to be close to what we outlined in our Outlook at the beginning of the year. The economy is returning to pre-covid levels, consumers are returning to travel and services, and corporations are still showing improved earnings. Market volatility has increased as we expected; we saw a -12% decline [...]
Overview 2022 should be the year of a full global recovery, an end to the pandemic, and a return to normal economic and market conditions that we had prior to the COVID-19 outbreak. We believe that an improved public health situation should result in a release of pent-up demand from consumers for travel and services, [...]