The Russian invasion into Ukraine and resulting Western sanctions on Russia continue to impact financial markets and the global economic outlook. As a result of the sanctions inflationary pressures have increased, particularly in energy, metals, and agricultural commodities like wheat.
Volatility across asset classes remains elevated as market participants continue to recalibrate expectations on the trajectory of monetary policy, the subsequent impact on asset valuations, and the overall impact to the domestic and global economy.
This week featured a robust set of economic data supportive of a more restrictive Federal Reserve monetary policy. The U.S. economy added 431,000 jobs in March, with upward revisions from the prior months totaling 95,000.
