
Twenty-seven companies completed their SPAC merger processes. The first quarter also saw 32 SPAC merger announcements, which was down more than 40% compared to the prior quarter.

Similar to IPOs, this was a significant drop compared to the prior quarter.

Global markets are down 5.5% in the first quarter, and the US S&P 500 is down 4.9%. The outlook for equities is generally positive however, with a consensus 4% increase in 2022, albeit with a few bumps likely along the way.

Our baseline expectation is for real GDP growth to slow to around 3% in 2022, a step down from 5.7% in 2021. While GDP growth was expected to slow, we expect growth to rebound in the second quarter and moderate thereafter.

Investors remain unsure about the future of the Russia-Ukraine conflict, other geopolitical concerns, and inflation in the US, all of which have contributed to negative equity market returns in the first quarter of 2022. The roller coaster ride of the past two years is continuing, with US capital markets currently experiencing the longest extended period of high volatility since the 2008 financial crisis. America Uruguay Uzbekistan Venezuela Vietnam Zambia Zimbabwe eSwatini/Swaziland Rep.) Costa Rica Croatia Cyprus Czech Republic Côte d'Ivoire Denmark Dominican Republic Ecuador El Salvador Equatorial Guinea Estonia Finland France Gabon Georgia Germany Ghana Gibraltar Global Greece Guatemala Guinea Honduras Hong Kong SAR, China Hungary Iceland India Indonesia Interaméricas Ireland (Republic of) Isle of Man Israel ישראל Italy Jamaica Japan Kazakhstan Kenya Kosovo Laos Latvia Liberia Liechtenstein Lithuania Luxembourg Macedonia Madagascar Malawi Malaysia Maldives Malta Mauritius Middle East Region Middle East Bahrain Egypt Iraq Jordan Kuwait Lebanon Libya Oman Qatar Saudi Arabia United Arab Emirates West Bank Gaza Moldova Mongolia Montenegro Mozambique México Mexico Namibia Netherlands Netherlands Antilles New Caledonia New Zealand Nicaragua Nigeria Norway Pakistan Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Romania Rwanda Senegal Serbia Singapore Slovakia Slovenia South Africa South Korea Spain Sri Lanka Sweden Switzerland Taiwan 臺灣 Tanzania Thailand Trinidad and Tobago Turkey Türkiye Uganda Ukraine Україна United Kingdom UK United States US USA U.S. Afrique Francophone Albania Andorra Angola Argentina Armenia Australia Austria Azerbaijan Bahamas Barbados Belgium Belgique België Bermuda Bolivia Bosnia and Herzegovina Botswana Brasil British Virgin Islands Brunei Bulgaria Cambodia Cameroon Canada Cape Verde Caribbean Cayman Islands Central and Eastern Europe Chad Channel Islands Chile China Colombia Congo (Brazzaville) Congo (Dem.
