Industry sources suggest that new supply this year could be down by between 15% to 20% on 2020 levels, a supply deficit that will put further upward pressure on property prices

Vaccinations are also becoming an important influencer in currency markets

Despite central banks' reassurances,  markets fear that rising inflationary pressures could see interest rate hikes commence as early as next year in major economies

Recoveries from recessions usually take much longer than this. However, this is a unique cycle.

Thursday’s ECB Council meeting will be important for both bond and currency markets

All the ingredients are in place for a period of robust US growth

Steepening yield curves have gone largely unnoticed but have a major influence on mortgage rates

The rapid roll-out of Covid vaccines in the UK has seen sterling rebound while the slow roll-out in the eurozone is proving a headwind for the single currency, given it is seen as holding back economic recovery

As noted by the ECB last week, and reflected in data for recent months, containment measures are mainly hitting the services sector of economies. 

Covid-19 vaccines becoming widely available over the course of 2021 should lay the foundations for a period of sustained, robust growth by the global economy over the next couple of years, with the US economy no longer an outperformer