Global wealth set to contract by over 2% this year, says report

"Monetary tightening is squeezing economies and markets - household wealth will feel the pinch," Allianz said the report. "In real terms, households will lose a tenth of their wealth."

Global household wealth is on track for its first significant contraction since the great financial crisis of 2008, according to a report by Allianz.
 

After three years of record gains in the value of household financial assets, 2022 is likely to result in a nominal drop of more than 2 per cent, researchers said in a global wealth report published Wednesday. They called this year a “turning point” for global wealth, amid scant signs that a meaningful reversal will follow. 
 

“Monetary tightening is squeezing economies and markets — household wealth will feel the pinch,” Allianz said the report. “In real