“Risk assets broadly declined in the first half of 2022 as the Federal Reserve began to normalize monetary policy in response to inflationary pressures. Valuations contracted, removing the speculative excesses and extreme leverage present in the capital markets since late 2020. Persistently high volatility remains the dominant market condition.”

–Joe Terranova, Chief Market Strategist,
Virtus Investment Partners

This edition includes a capital markets performance recap of the first half 2022.