Q2 Market Commentary 2022
- 3 August 2022
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Over the last two years we have experienced increasing numbers of clients looking to take stock of their finances and focus more on future financial projections to ascertain if ensure they are on track to meet their life goals. This is a perfectly natural concern when we are faced with uncertainty as has been the case with, for example, the onset of Covid and the current situation in Ukraine.
The first quarter of 2022 was dominated by the conflict in the Ukraine. Looking beyond the humanitarian impact, the crisis has created volatility and distorted markets. Central banks have remained on guard as inflation numbers have increased and this has led to interest rates rises in the UK and US. Energy companies have clearly been the biggest beneficiaries in the short term as prices have spiked.
We're pleased to announce that we've hired Adam & Co advice director Ken Davidson to lead our Glasgow office. Ken takes up the role of chartered financial planner, following over seven years with Adam & Co in Edinburgh. He was previously an associate director at HSBC Private Bank, and was with the Royal Bank of Scotland for more than 13 years.
We keep a close eye on global market developments, and each quarter we share an overview with our clients to keep you up to date and informed. In Q4 (October to December 2021) the economic backdrop remained relatively stable on the whole with growth being strong in most areas, despite the new variant Omicron creating volatility which started to ease as we found out more about the impact from the scientists. Manufacturing and servicing continue to
We keep a close eye on global market developments, and each quarter we share an overview with our clients to keep you up to date and informed. In Q3 (June to September 2021) the economic backdrop remained relatively stable on the whole with growth being strong in most areas. Manufacturing and servicing continue to show expansion, and corporate earnings have seen more upgrades than downgrades as they improve and economies continue to reopen.
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Over Q2 markets on the whole continued to appreciate as more economies and sectors reopened and consumers started to spend some of their pent up savings. Central Banks have kept interest rates on hold and continued to make the point that inflation is not a concern at the moment and the recent increases are largely down to the comparison with the same time last year, when lockdowns were more apparent as a result of Covid.
We keep a close eye on global market developments, and each quarter we share an overview with our clients. Over the 2021 Q1 period, the general trend has been an appreciation in markets, largely thanks to the approval and roll-out of various vaccine programmes.