Second Quarter of 2022
During the second quarter of 2022, equities accelerated the march into bear territory as inflation concerns, and the resulting rise in interest rates, continued to grow on the back of persisting supply chain and geopolitical issues. No equity market segments were spared from the downturn, though some areas were hit harder than others as the high-valuation, tech-heavy Nasdaq 100 took the brunt of the decline after ending the quarter down 22.30%, bringing year-to-date (YTD) losses to 29.22%.
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.