ECONOMY | 27.01.2022
The conflict between NATO and Russia could have immediate effects on the economy. This and other challenges such as the climate crisis or the new Omicron variant form part of the global risk map for this year.
Analysts are already discounting the turnaround in monetary policies and the latest macroeconomic data in the market. However, they haven’t yet been able to determine the impact that the geopolitical conflict is having on the stock markets.
The MAPFRE Group’s research arm, in its latest Economic and Industry Outlook report, delays the economic recovery and points out that the upturn in inflation, supported by the energy and commodities crisis, will continue to condition future central bank decisions.
Some observers believe that 2022 will be marked by natural catastrophes and the climate crisis, factors that pushed insured losses during the first half of last year to their highest levels in a decade.
“Not so low real rates or a bit higher nominal yields are not only more positive for the pension and insurance industry, but in general, they are less distorting for economic decisions of all agents.”
“We continue to believe that value will outperform growth in the medium to long-term, not only on a relative basis, but also -and much more important- by producing a positive absolute return.”