Following a flat GDP reading in February, the UK economy has shrunk by 0.1% in March after a lackluster period for retail in particular. Year on Year, the UK economy has grown 8.7%, a strong rebound from the pandemic, though inflationary pressure is topping the list of headwinds as we progress through 2022. This is exacerbated by the war in Ukraine, though inflation has been mounting since economies reopened following several lockdowns since 2020. UK sovereign debt saw a notable lift at market open as safer assets were being sought due to growing risk of recession, and following recent declines for gilt prices. UK equities declined, though were caught up in global risk off sentiment following US inflation data yesterday showing a stubbornly high level persists for the world`s largest economy, with implications for the global picture.