INVESTMENT UPDATE & OUTLOOK QUARTER 1, 2023

Developed stock markets had a robust rally in January, but most of their year-to-date gains have been erased due to a resurgence in recession fears and anxieties surrounding the stability of the financial system after the collapse of certain regional U.S. banks. There were huge market swings in the US banking sector during Q1 that showed similarities to 2008 and led parts of the yield curve to invert as increased volatility led to outflows until some clarity emerged.

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