Untitled Document
Q
2
 2022
Global
Market
Outlook
Q
2
2022
Global
Market
Outlook

Dented, not derailed

Russia/Ukraine adds to near-term growth risks for the global economy and will keep inflation high for longer. Uncertainty is high, but equity markets are oversold and should recover if tensions ease in coming months.

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Compliance with U.S. Executive Order 13959

On June 3, 2021 President Biden signed an Executive Order to further address the ongoing national emergency declared in E.O. 13959 “Addressing the Threat from Securities Investments that Finance Certain Companies of the People's Republic of China” and related FAQs. The E.O. addresses the threat posed by the military-industrial complex of the People's Republic of China (PRC) and its involvement in military, intelligence, and security research and development programs, and weapons and related equipment production under the PRC's Military-Civil Fusion strategy. The E.O of June 3, 2021 amends E.O 13959 and restricts the purchase or sale of any publicly traded securities, or any publicly traded securities that are derivative of such securities or are designed to provide investment exposure to such securities, of any person listed in the Annex to the order. We have taken steps as required to comply with the Order to the best of our knowledge and belief. We continue to monitor this matter to assess any potential impact or actions needed, as facts and circumstances continue to evolve.