First Quarter of 2022
Equity markets closed out the first quarter of 2022 with the worst quarterly performance seen since the initial COVID market sell-off in 1Q 2020. This poor market performance was not caused by an unobservable virus, but rather a tangible and visible rise in both interest rates and geopolitical tensions not seen since the Cuban Missile Crisis, along with an accompanying flurry of negative economic impacts. Despite a resounding comeback during the latter half of March, all observed indices ended the quarter in the red.
The purpose of this communication is to provide general information, opinion, and outlook. All references to potential future developments or outcomes are strictly the views and opinions of First International Bank and Trust and in no way promise, guarantee, or seek to predict with any certainty what may or may not occur in global economies and investment markets. The contents of this report should not be relied upon in making investment decisions. Investment products are not FDIC insured.
Who is FIBT?
First International Bank & Trust (FIBT) is a full-service, family-owned, independent community bank serving a wide range of communities across North Dakota, South Dakota, Minnesota, and Arizona.