CIO Outlook 2022 by Jeffrey Lee, Director & CIO at Phillip Capital Management
- Inflation Risk and High Valuations
- China’s Experimentation on Self-Reliance
- Towards Net Zero
- Stick to the Quality Theme to Ride Out 2022
At the beginning of 2021, we wrote about the vaccine-led recovery in global economies and stock markets. Since then, world markets have returned around 20%, and the US market more than 25%, surpassing the expectations of most investors. Omicron is currently making the rounds, after the Delta variant, and it has yet to be seen how governments plan to respond to new variants in the future. 2022 will be marked by inflation concerns, uneven economic recovery, and moderate equity gains (coupled with negative bond returns) amid heightened volatility in financial markets. The world economy will transition from the recovery boom fuelled by ultra-loose monetary and fiscal policies to steady-state growth and Fed monetary tightening…(continued)
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