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CFO 2023 Economic & Financial Market Outlook
When future historians write about landmark years in economics and financial markets, 2022 will make thetop-ten list. Driven by the highest inflation and most aggressive tightening cycle in 40 years, the uneven reopening from COVID, and the Russian/Ukrainian war, both stocks and bonds fell by more than -10% for the first time on record. In the end, the S&P 500 fell -19.4%, its seventh-worst year since 1926; and the Bloomberg Barclays U.S. Aggregate Bond Index fell -13.0% making 2022 the worst year on record