"In the coming months, we should see the global economy regain vigour as consumers and businesses release their pent-up demand. This revival will come with some risks but we do not think an alarming rate of inflation is the most pertinent risk for now.” High hopes for a stronger-than-expected upturn in the global economy have rattled financial markets. Once it was clear that the US Congress was set to approve President Biden’s massive US$1.9 trillion (RM7.7 trillion) stimulus package without reducing its scale, expectations of economic growth in the US — and the world economy — soared. But as these same expectations also drove bond yields and commodity prices higher, investors became skittish about inflation and whether central banks would be prompted to tighten monetary policy. Prices of bonds and equities have become much more volatile as a result.