Review of 2022: Fighting on all fronts
Macro headlines unleashed micro-horrors, as margins soared, correlations cracked and crypto markets imploded
A year that began with hopes of a return to normality instead produced destruction and disorder. Russia’s invasion of Ukraine heaped misery onto its neighbour, torched international norms and presented financial markets with a host of terrifying new scenarios.
Western governments hit Russia with successive volleys of sanctions, cutting off its access to global financial markets. Russia responded
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