Recovery Disparities Across Regions
As we move into the second quarter, the region should start to show a strong recovery in economic growth rates, albeit from a low base, driven by a combined cyclical and COVID-19 recovery. Having fallen to extremely low levels, inflation across the world is starting to pick up, and while Europe is lagging this, it will not be left out completely. Meanwhile, the near-term inflation picture is likely to continue to weigh on bond markets globally.