Top-of-mind economic news as we start the week:
— The Federal Reserve will allow up to $95 billion in bonds on its balance sheet to mature each month; owns $8+ trillion in bonds, 50% bought during pandemic.
— The majority (81%) of US adults polled think a recession is likely in 2022, per CNBC survey.
— China is continuing to shut down sections of major cities as fast-spreading Covid variant challenges its zero-covid policy.
— The Russian ruble is back to where it was pre-Ukraine invasion; now at 77 per US dollar vs. a low of 139.
— Investment flows into ESG/impact funds dropped 46% in Q1 2022 vs. Q4 2021, to $75 billion, lowest level in two years, amid market uncertainty.
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