Summary
Phil Anderson provides a mid-cycle market update for May 2022, assessing market conditions against the 2022 Roadmap forecast. Markets are under continuing pressure from the Fed’s rate hikes and ongoing geopolitical uncertainty.
Key Claims
- Markets continue to track the 2022 Roadmap decline scenario into mid-year
- Fed rate hike cycle is adding pressure to equity markets globally
- Real estate cycle context remains intact — mid-cycle correction, not terminal decline