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By James RUTLAND, Fund Manager Invesco
As ever, things have moved quickly in 2022. Since our outlook at the start of the year in which we talked about a robust economic outlook, we have seen the tragic events unfold in Ukraine. Clearly, this is going to have an impact on the near-term outlook. However, many of the building blocks we identified at the start of the year have been reinforced by the conflict. The biggest change appeared in the short-term outlook for the consumer, but although there is uncertainty, we don’t think that all will be lost.
Encouragingly, how policymakers reacted to COVID – and now the invasion – is very different to how they responded to the Global Financial Crisis (GFC). In our mind, this calls into question the type...
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