Investors rode a roller coaster during the first half of 2022, with extraordinary events presenting significant challenges. Surging inflation from the ongoing war in Ukraine and renewed COVID-19 lockdowns in China continue to cloud the outlook for global economies, financial markets, and central bank monetary policies. Against this confusing backdrop, our PGIM asset managers assess the current landscape, share perspectives on key trends set to shape the second half of 2022 and beyond, and offer ideas for investors seeking to capitalize on the opportunities ahead.