Bassanese Bites: Fed Fear – March 14 2022

Global markets

It was another poor week for global equities, with the U.S. S&P 500 down 2.9% and on the cusp of breaking to a new low in the correction to date. Confirmation that the U.S. and U.K. would ban Russian oil imports got the week off to a wobbly start, while confirmation of persistent, very high U.S. consumer price inflation later in the week did not help. And just for added displeasure, Putin upped the ante over the weekend by threatening to attack NATO provided military supply lines into Ukraine – and then promptly bombed a military base close to the Polish border.

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