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Our views 02 July 2021

2021 Q2 review: Re-opening rally continues

5 min read

Successful vaccine rollouts in the US and Europe are driving optimism about global economic re-opening and growth. Following a strong start to the year for risk assets, equities reached fresh highs, with tech stocks driving the recent rally.

Commodities also built on an impressive start to the year, led by oil which rallied to two-year highs as inventories remained low while demand recovered. Sovereign yields fell slightly over the quarter as markets shrugged off the spike in US inflation as ‘transitory’, in line with comments from the US Federal Reserve.

Read in full: Re-opening rally continues