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Quarterly Market Review: Q4 2021 By: Paul Dickson, Director of Research and Mark Stevens, Chief Investment Officer Shifting Gears Even as the pandemic continues to delay a full normalization of the global economy, the exit from emergency support has begun. Most fiscal and administrative efforts have waned, and global monetary authorities have moved on from protecting against the downside to worrying about inflation. The emerging theme is one of shifting gears away from stimulus and towards relative austerity and to relying on the private sector to take the lead as the engine of recovery...