April 20—After COVID took hold in 2020, many of those who could high-tailed it out of the crowded cities where they worked and headed for home offices in the ‘burbs, as office buildings gathered dust. Today, although rents have bounced back from all-time lows and then some, working remotely is still very much with us—as is the virus to an extent.
“There are decades where nothing happens; and there are weeks where decades happen.” This quote—in addition to representing an exquisite irony—has proven as true in the first quarter of 2022 as it was when it was said by founder of the Russian Communist Party Vladimir Lenin over 100 years ago.The last few months has seen an escalation of economic, market, and geopolitical risks across the globe. The S&P 500 has responded with the first negative quarterly return in two years.
April 6—As we entered 2022, even the onset of the omicron variant failed to shake markets’ optimism. With much of the world learning to cope with an endemic COVID-19 and rates set to rise, the stage was set for strong global growth. The last three months, though, have been less rosy than we might have hoped. From the Russia/Ukraine conflict to inflation surprises, investors would be hard-pressed to say they were anticipating this level of macro uncertainty.