The common view is that the overall impact of the war will be driven by how long it lasts. While that is true, there have already been clear and significant consequences.
The obvious ones are energy prices, with oil and gas jumping sharply. Higher prices, particularly in a globally key resource such as energy, have widespread consequences, feeding into inflation and interest rate expectations. Equity markets have been weak, and volatility has increased as investors reassess the outlook. The bigger unknown is what comes next, and it is appropriate to express some caution at present.
In this month's Market Watch, Premier Miton CIO Neil Birrell reflects on market and geopolitical events during the month.
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