Slower, But Still Pretty Fast

We caught up recently with our chief investment strategist at Nuveen, Brian Nick for a conversation on markets and the economy:

“4Q was the best quarter of 2021 from a GDP perspective,” he told us. “Last year’s growth was 5.5%, best since 1984. Even half that rate in 2022 would still be above trend. But the hairpin turn by the Fed was remarkable. We went from one possible hike to 4 or 5 hikes today!

“Everything’s selling off in unison with nowhere to hide. Markets are adjusting to a more hawkish Fed, and a different set of winners and losers than we saw last year…

▶︎ Read Feb 7 2022 newsletter: here

▶︎ Chart of the Week: here (by Nuveen, Bloomberg, Bureau of Economic Analysis)

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