2022 started with a decline in the S&P Europe 350®, although its performance was strong relative to broader developed markets, and the U.S. in particular.
Thanks in part to its strong representation in this month’s leading sectors—Energy and Financials—the S&P United Kingdom bucked the trends to finish higher by January’s end. European Information Technology was a major laggard.
Consistent with a global outlook for tighter monetary policy, sovereign bonds dropped across the board. Inflation-linked bonds also declined, potentially signalling confidence that inflation will eventually be brought under control.
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