Weekly Market Commentary

This week, global financial conditions have tightened and downside risks to the economic outlook increased, though no material systemic event affecting financial institutions or markets has materialized so far. We remain cautious, especially with non-US equities due to sanctions imposed on Russia by the U.S. and Europe, as well as the enormous number of refugees that region must deal with. Investors are counting on the Fed to do the right thing to control inflation as well as avoiding a recession. These thoughts and much more are discussed further in this week’s notes. Click here to read the full report.