RECESSION OF REPRICING?  The rate angst of March bled into equities in April, and has tipped U.S. small cap stocks, the Nasdaq Index, and select international markets like the Shanghai Composite into bear market (20% decline) territory. The most speculative parts of the markets have been hit the hardest with crypto being front and center....

RATE ANGST The U.S. bond market just exited its worst quarter in years, with Treasuries down 5.6%, corporate bonds down 7.4% and a broad municipal bond index down 6.2%.1 After shaking off the rise in inflation in 2021, a swing in the outlook for Federal Reserve policy led to a jump in interest rates this...

THE WAR TO END ALL WARS Such was the assessment originally applied to “The Great War” that ran from 1914 to 1918 – a war so violent and so bloody the world was convinced nothing so horrific could or would ever happen again. The world was wrong. Two decades later the world was thrust into...

LESS GROWTH, MORE INFLATION In just a few weeks’ time, the threat of a Russian invasion of Ukraine has become the reality. The resulting humanitarian toll has led to millions of Ukrainians leaving the country, with a similar number displaced and too many killed or injured. Forecasting the eventual outcome remains highly uncertain, but Russia’s...

Northern Trust Chief Investment Strategist,EMEA and APAC Wouter Sturkenboom, offers additional thoughts on the Russia-Ukraine conflict.   Current state of the Russia-Ukraine conflict The Russian invasion of Ukraine is still intensifying around the major population centers while Ukrainian resistance continues to impress in its ability to hamper, but not stop, the Russian advance. As the...