Last week (March 7 March 11), the conflict in the Ukraine remained center stage and U.S. equities retreated. Pre-existing inflation concerns have been exacerbated by Russias invasion of Ukraine. Energy prices made new highs early in the week following news that the U.S. would halt Russian imports. The Consumer Price Index (CPI) data showed inflation at 40-year highs as food prices are escalating at the quickest rate ever.

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