The dollar, a beneficiary of rising U.S. interest rates, was down slightly on Friday but on track for a 2022 gain of 8%, its biggest annual percentage increase since 2015.
The Fed and central banks around the world have been increasing interest rates to fight soaring inflation caused by issues including an energy crisis and supply chain problems stemming from the COVID-19 pandemic and oil producer Russia's invasion of Ukraine. "While stocks will struggle with slowing economic activity and the loss of inflated earnings from inflation, bonds are earning a decent income with the potential for price appreciation as yields come off their peak."
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