LaSalle's June 2022 Macro Indicators

The Transition from Acute to Chronic Stress


Three months after the Russian invasion of the Ukraine, the
fighting and destruction continues. Our March macro deck focused
on the ensuing volatility of equity markets, consumer prices and
energy costs. In June, there is no sign of the conflict abating,
volatility in the capital markets remains high, and energy costs
continue to edge upward. As the situation in Ukraine transforms
from an acute conflict into a chronic state of affairs, it joins
a string of other global stress points that remain ongoing and
without closure. Among them are: COVID-19, rising inflation,
supply-chain blockages, climate change, and geo-political
tensions that exist far beyond Eastern Europe.