• Economic Outlook
  • Outlook

Second Quarter Outlook 2022 Letter


Content List

The second quarter of 2022 was an inflection point. Many cross-currents moved the
economy from strong, steady above-trend growth to one that was negatively
influenced by government policies. The quarter saw one of the worst markets for both
stocks and bonds in close to 50 years. Coming out of COVID-19, economic
imbalances became more pronounced.