Warsaw in record-breaking form

Although Covid hasn’t released its grip on many parts of the world, it is no longer putting such a dampener on the mood of investors. Both in Europe and the US, the number of vaccinations has reached such a high level that with the seasonal lull in the number of cases most restrictions can be lifted and economies allowed to recover. This can be seen as the economic growth projections are, one-by-one, being raised by economists and international financial institutions – and confirmation of their predictions can already be seen in the partial data emerging from particular economies. The only fly in the ointment is the spectre of inflation, which could take off just as economies start to recover. Some central banks, such as the Hungarian state bank, have already started raising interest rates. Investors have, however, not been spooked enough by the prospect of inflation to prevent the indexes ratcheting up to new records. In June records were broken by the US Nasdaq, the CAC40