Review of the week

The air is cold but the company is warm. England wraps up for the reopening of pubs and restaurants.

A week of Fed watching cooled the recent rise in US Treasury yields, sending the dollar and sterling lower. Then British flags followed suit.

The US economy is rocketing towards recovery, with jobs, confidence and output soaring amid a strong vaccination drive and stimulus. Next on the list, investment in clean energy.

The strands of trade connecting markets are as important to our living standards as they are fragile. A stranded ship in the Suez highlights both points at once.

As the fight against COVID-19 continues, economies are beginning to reopen. Are we about to experience a typhoon of activity to mirror the huge slumps of 2020?

The average American family has received $11,400 of government cheques since the pandemic began. That’s a big windfall for people and a difficult economic puzzle for the US Federal Reserve to decipher.

The US is about to turn on the spending taps once again to combat the effects of the pandemic. This time it coincides with the reopening, so expectations for GDP growth are soaring – taking yields with them.

When bond markets move, governments and stock markets take note. A swift rise in yields has rattled equities and focused attention on countries’ swollen debt piles.

Flowers, hopes and yields are rising as spring approaches. Still, the UK government is only very cautiously reopening as vaccinations continue apace.