PGIM Investments: Macro Uncertainty Calls for Agility and Diversification

Global markets have taken a beating during most of 2022. Lingering supply chain issues, exacerbated by the war in Ukraine and pandemic-induced shutdowns in China, helped push global inflation significantly higher. As central banks tightened monetary policy in response, fears of recession gripped markets, with stocks, bonds and real estate assets declining sharply throughout most of the year. Meanwhile, commodities generally rallied, although returns were somewhat divergent.

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