We caught up recently with our chief investment strategist at Nuveen, Brian Nick for a conversation on markets and the economy:  

“4Q was the best quarter of 2021 from a GDP perspective,” he told us. “Last year’s growth was 5.5%, best since 1984. Even half that rate in 2022 would still be above trend. But the hairpin turn by the Fed was remarkable. We went from one possible hike to 4 or 5 hikes today!  

“Everything’s selling off in unison with nowhere to hide. Markets are adjusting to a more hawkish Fed, and a different set of winners and losers than we saw last year...