Monthly Archives: March 2022

February Portfolio Update | 2022

Thoughts on the Market: February Edition

Markets Fret the Three “In’s”: Inflation, Interest Rates and International War 

Written by Jamie Murray, CFA 

The escalating war in Ukraine has roiled capital markets with swift sanctions, exacerbating supply challenges. Keep in mind, the Russian economy is insignificant on the world stage, accounting for ~1% of global GDP. A company such as Mastercard has likely lost its revenue from the region (forever) but the 2% hit to its revenue will soon be forgotten as the rest of the world continues to move to digital currency. The upshot is the inflationary effects of higher energy and commodity prices. Commodities, including wheat, oil, European gas and nickel, reached decade-high levels in early March as the West quickly shut off trade with the country. 


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