Global Outlook: Light at the End of the COVID Tunnel

• While a Winter COVID19 wave in Europe/U.S. is the late 2020 focus, vaccine approval and rollouts will dominate 2021. This should allow a reduction in official and voluntary social distancing - but how will it impact consumption and business investment, and hence growth and inflation? Meanwhile, will policymakers withdraw temporary fiscal measures or undertake some additional fiscal and monetary policy stimulus? 
• There are also key questions about how various countries will distribute a vaccine and the different impact it will have across economies.
• Finally, will a Joe Biden Presidency herald major changes on the world stage?