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D-PIMS Weekly Market Update - Week of 14th to 20th February 2022

Today’s Monday update:

Over the course of last week, market moving headlines were mostly political, Covid-19 and economically related:

• On Monday, Russia suggested that it was ready to keep talking to the West to try to defuse a security crisis in which it has amassed a huge force within striking distance of Ukraine, while a Ukrainian official said Kyiv was prepared to make concessions to Moscow.

Moderna, the US drugmaker which pioneered the mRNA Covid jab, is on the brink of striking a deal with the UK Government to open a vaccine research and manufacturing hub in the UK.

• Russia said on Tuesday that some of its military units were returning to their bases after exercises near Ukraine. This followed days of U.S. and British warnings that Moscow might invade its neighbour at any time. The development drew a cautious response from Ukraine and Britain. Western military analysts said it was too soon to be sure of the extent of any de-escalation.

• Figures out on Wednesday, showed that British consumer prices rose at the fastest annual pace in nearly 30 years last month. The annual rate of consumer price inflation rose to 5.5% in January, the highest since March 1992, the Office for National Statistics said on Wednesday, above expectations from economists in a Reuters poll for it to hold at December's 5.4%.

• The United States has seen Russia stocking up on blood supplies, inching troops closer to Ukraine's borders and flying in more combat aircraft, U.S. Defence Secretary Lloyd Austin said on Thursday, dismissing Moscow claims of withdrawal.

• Members of a trans-Pacific trade pact have agreed that Britain can proceed with its bid to join the group, Japan said on Friday, as it looks for new trading relationships after leaving the European Union. Under the terms of the pact, known as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) members, Japan, Canada, Australia, Vietnam, New Zealand, Singapore, Mexico, Peru, Brunei, Chile and Malaysia remove 95% of tariffs between them.

Ukraine estimates the probability of a major escalation of conflict with Russia to be low, Ukrainian Defence Minister Oleksii Reznikov told parliament on Friday. "Our intelligence sees every move that could pose a potential threat to Ukraine. We estimate the probability of a large-scale escalation as low," Reznikov said.

• Over the week, the main Global Stockmarkets were down. Markets continued to be nervous about escalating Russia/Ukraine tensions. Over the week, the D-PIMS Portfolios were down, especially the higher risk portfolios.

 

The value of investments and the income from them can fall as well as rise and you may not get back the original amount you invested.

Past Performance is no guarantee of, or guide to future returns.

The comments made above represent our interpretation of events and market views and are in no way a guarantee of future investment performance.
 

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