We suspect perceived shifts in data in areas such as US payrolls and unemployment will drive investor allocations and market sell-offs based on fears over further spread of the Delta variant.
Fears that the Delta variant will derail global growth looks set to drive investment decision-making, even though inflation is the major risk that investors should focus on, in our view.
Now that nations have progressed beyond the initial stages of the recovery cycle, investors are fretting over macro-economic data as they look for potential warning signs of a reversal in growth.
