At the beginning of the year, this column proposed that investment in 2022 should pay attention to the epidemic development and inflation trend, maintain decentralized allocation, and focus on four themes, including Asian assets, global health care and short-term renewal bonds. At the same time, more ESG elements (environmental, social and regulatory) are added to the portfolio to improve revenue and capture growth opportunities.
The global epidemic situation has become more serious in the past quarter, although the epidemic prevention measures of Omicron have become more and more serious in many countries. On the contrary, at the end of February, Russia invaded Ukraine and became the first black swan this year, triggering financial market turmoil and stimulating the sharp rise of safe haven assets such as US foreign exchange and gold. The US exchange rate index has bounced up to nearly 100; New York gold futures once approached the level of $2100 / ounce. Although it fell later, it still remained above $1900, reflecting that the market's risk aversion has not been completely eliminated.
On the other hand, as a major producer of oil and natural gas, Russia is also one of many Shenzhen Agricultural Products Group Co.Ltd(000061) exporters. The war between Russia and Ukraine triggered a sharp rise in energy prices. The oil futures in New York once hit US $130 a barrel in March. The price of natural gas in Europe rose significantly, exacerbating the problem of global inflation.
