Drummond Brodeur, CFA
February 2022
The Russia/Ukraine situation remains fluid and will likely continue to deteriorate with a series of escalating
actions from Russia matched by sanctions from the west. This will continue to dominate headlines and be
a driver of market volatility in the coming days and weeks and we are monitoring the unfolding situation.
But for markets, we maintain the most important factor remains the pace of the Fed’s removal of policy
accommodation and the related trajectory of incoming inflation data.
