Financial Update – March 2022

Ukraine is a thread which runs through this month’s Bulletin. It directly impacts the sections on Europe and Emerging Markets and stock markets all around the world were hit by the initial shock of Vladimir Putin’s decision. Clients have been understandably worried, and many have contacted us. We have therefore added a special section on the events in Ukraine to this month’s Bulletin. It was written at 3pm on Tuesday March 1st. We hope you’ll understand that the practicalities of getting the Bulletin to you mean some specific comments may be outdated by the time you read it. More so than in any other month, every comment we make should be read with the ‘at the time of writing’ caveat in mind.