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2022 was a difficult year in many respects. The war in Ukraine, energy crises and the central banks’ fight against inflation were the main causes of difficulties for bond and equity markets in Europe and North America, while Covid-19 continued to be an issue in Asia.
Who hasn’t experienced it: you drive off the highway and feel like you’re moving at a snail’s pace, even though the speedometer still shows a pretty high speed.
The fourth quarter of the year ended the third consecutive calendar year with positive stock returns. This is despite ongoing uncertainties surrounding Covid 19, a new viral variant, tighter central bank policies, and rising inflation.