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Equity markets have generated solid returns on the back of strong corporate earnings, which have been supported by the labour market recovery and increased consumer spending, as global economies have reopened.
COVID-19 has undoubtedly caused worldwide disruption to the global
economy. It brought about restrictions on movement through lockdowns and required extraordinary monetary and fiscal stimulus to curtail the economic damage. However, as vaccine rollouts have gathered momentum allowing economies to gradually reopen, global growth is recovering and consequently led stock markets to continue on a positive trajectory.
Investor’s have been given pause for thought over the last month, with the spread of the Delta variant of COVID-19 and softening economic data. This suggests that the global recovery post pandemic may be slowing slightly.
Following the impact of the Pandemic on global economies, we have experienced one of the sharpest recessions in history, followed by one of the strongest recoveries.
As economies gradually reopen, global growth is expected to continue on its upward trajectory. Growth will continue be supported by the enormous fiscal and monetary stimulus provided by Governments and the Central Banks.
A tremendous effort has been made through the use of monetary and fiscal policy to protect people and economies from the impact of COVID-19, which was first declared to be a global pandemic over a year ago.