Cardinal Quarterly – 2022

Market Outlook – Geopolitical and economic developments were mostly negative in the first quarter of 2022. Russia’s invasion of Ukraine has no clear end in sight and China’s COVID lockdowns in major cities such as Shanghai have slowed the world’s second-biggest economy, lowering global GDP. Inflation has continued to surge, creating expectations for further interest rate increases from central banks.

As a result of these concerns, most developed market indices fell in the first quarter. Only the S&P/TSX in Canada and the FTSE 100 in the U.K. were positive, increasing 3.8% and 1.2%, respectively. The next best-performing markets were the Japanese Nikkei 225 and the Australian ASX 200, which were down -2.5% and -2.7%.

Click here to read more:  Cardinal Quarterly – March 2022