Covid case decline boosts US markets as China embraces Lunar New Year

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Prosperity Investment Management provides you with a weekly update from markets across the globe.

American markets had a promising week again as many of the world’s significant economies reporting a decline in pandemic cases. Similar gains were seen to the week before as we once again saw all-time highs. Weekly jobless data came in lower along with inflation data (CPI).

In Europe, indices continued to post positive results across the board. This was despite the fact countries such as Germany declared new lockdown measures. Results also showed that the UK economy shrunk by 9.9% last year, a record not seen for over 300 years.

Asia continued to enjoy 2021 performance before embarking on Lunar New Year festivities this weekend.

And finally we saw change in Mexico. The nation’s overnight interbank interest rate was cut to 4%, a controversial move that surprised many but deemed necessary given the trading environment.