2022 long-term capital market assumption

The 2022 Capital Markets Assumptions show the global economy outlook is shaping up to be a lot brighter. However, risks remain as pre-pandemic challenges begin to resurface.

• Our Global Market Strategist team anticipates an improving economic environment with moderate growth towards longer-term trend rates in 2022 as fiscal stimulus declines and the economy normalizes.
• Inflation will remain elevated in 2022, but higher inflation is good news for real assets like real estate, infrastructure and commodities which offer diversification benefits for asset owners.
• While the risk of a slowdown remains in 2022, we’ve maintained a higher risk posture relative to our benchmark. Despite hawkish monetary policy, our framework points toward an expansionary regime.