Q3 2021: last innings of the reopening trade - Manulife

It’s time to think beyond the reopening and examine factors that could drive the post-Covid-19 global economy. While many countries have only just embarked on the path toward reopening, the world’s largest economies – the United States and China – are already well on their way, with Europe and Canada following closely behind as vaccination rollouts accelerate in those countries. Indeed, the road map to reopening has been laid out, and uncertainties surrounding the virus, vaccination, and how economies might fare as they reopen have diminished substantially. Now that the global macro environment is in the last innings of the reopen/reflation narrative, what comes next?