Economists and investors alike are busily revising up their already-high expectations for 2021. Fuelled by a massive fiscal expansion and rapid vaccine deployment, the US economy will set the pace this year, but the rest of the world will not be far behind. Economic data continues to consistently surpass expectations around the world, and in virtually every sector of the economy.

Forecasts for booming economic growth have been pulled forward into the first half of this year, and financial markets have rotated — at times violently — out of last year’s winners into more economically sensitive sectors, with energy the biggest winner so far.

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