Second Quarter 2022 Investment Perspective

July 2022
Quarterly Updates

CIO Commentary

Place & Time

As we are all painfully aware, the first half of 2022 has proven to be exceptionally difficult for most asset classes. Stocks and bonds have both retreated considerably. More speculative asset classes have been dismantled.

This bear market is a function of a toxic mix of much higher‐than‐expected inflation, a move by the Fed and global central bankers to tighten credit conditions after a period of extraordinary stimulus, and, of course, the fallout from the tragic Russian invasion of Ukraine.

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