“It was the best of time, it was the worst of times,” wrote Charles Dickens in the opening of “A Tale of Two Cities”, a quote that resonates with the dilemma facing investors facing two opposing risks as the global economy recovers from the Covid19 shock in 2020. Lyxor’s CIO Florence Barjou dissects these risks – of markets overestimating the strength of the economic rebound, and the possibility of a resurgence of inflation.
