Tom Galvin Discusses 2022 Market Outlook

City National Rochdale's chief investment officer said 2022 is starting off with a bang.

City National Rochdale Chief Investment Officer Tom Galvin was a guest on Bloomberg’s “The Close” program, where he discussed his market outlook for 2022, what’s keeping him up at night, and the bifurcation in the tech sector between high-quality companies with strong fundamentals and speculative, unproven companies driven by “change the world” technology.

“We came into the year expecting more volatility, and we’re starting off with a bang,” said Galvin, noting that the current correction in the equity markets is overdue. He anticipates that the economic recovery will continue, but that it’s likely to slow in 2022, and that current market volatility may continue as well. “Investors have to expect more volatility. The past 18 months have been more steady, but this may be a harbinger of what this year is going to bring.”