Tim Fox

Longer-term investment case rests less on geopolitical uncertainty than on changes to global fiscal landscape

Investors no longer look only at the central bank's reaction, they also try to decipher the response from the White House

Energy and defence co-operation likely to be discussed

The key issue is whether the pace of its relative erosion is accelerating

Although this region is not an explicit target of US president's tariffs, it could still be affected by sanctions on specific sectors, such as aluminium and steel imports

There are widespread indications that price pressures are building across several sectors

Markets are concerned that the new central bank chief could reverse recent monetary policy tightening

The Fed is taking a relaxed view of firming yields, but the UK offers a glimpse of a post-Covid-19 recovery earlier than expected

Inflation is key as evidence emerges that energy, housing, agricultural and commodity prices are rising

Bank of England raises longer-term economic forecasts despite hinting at negative interest rates

The Federal Reserve has, and will act to avoid the risk of a correction in markets

Investors ignored the clashes in Washington and focused on the bigger picture

Ongoing stock rally causes concern, with analysts warning inflation could begin to recover in 2021 as a vaccine-charged recovery takes hold

Strict virus control measures could weigh on economic data and Biden’s reforms may be impeded by a gridlock in the Senate

Biden’s win and the Covid-19 vaccine breakthrough caused equities to rally and bond markets to question how long zero rates and QE will persist