2022 Seaspray Private Q3 Investment Update

As we head into the final three-month period of 2022 there are events and sets of economic data that can be positive for markets. We see the potential for still-robust earnings to support equity prices, for inflation to continue to wane – especially in the United States, energy issues in Europe turning out to be less severe than were feared, and for the Chinese economy to fully re-open and move on from here. Equally, there may be other factors this quarter that will not help markets; US and European recessions could occur and be deeper than expected, earnings results may disappoint across the board, or the Russia-Ukraine crisis could potentially worsen.