The new Germany looks almost exciting! What will a post-Merkel Germany look like? Will green and business interests align under the new fraffic-light government? How will the relationship with Brussels and the ECB shape up? “Interesting” times ahead.
As the US Fed meets to discuss rates and assess the real inflation threat, the UK Covid-freedom delay is likely to stall recovery momentum and add to the economic pain being felt at the micro-level. Markets are pricing for a transitory inflation bloom, but what is the real inflation outlook and what will it mean for bond markets as the European Union launches Europe’s fully mutualised funding programme – don’t anyone tell the Germans its happened!
