The end-of-year reviews made abundantly clear that 2022 was a year of profuse setbacks. The financial market overviews were no different. Rising prices not only caused havoc in the wallets of ordinary people. The dramatic increase in inflation led major central banks to hike interest rates leading to a brutal year for investors. According to the Financial Times, stocks and bond markets shed more than $30 trillion (12 zeros) in 2022.
Ironically, central banks are the primary victims of their own doing - monetary and exchange rate policies require investments in fixed-income securities (bonds). The prices of these bonds go ...
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