As with all good investing, any strategy that involves making money from stock markets in 2021 must consider the economic outlook but I would argue that in terms of impact, Covid-19 may be further in the rear-view than some investors think.

Wall Street clawed back the last of the historic, frenzied losses unleashed by the new coronavirus, as the S&P 500 closed at an all-time high on Tuesday. The day’s move was a relatively mild one, nudging the index up 7. 79 points, or 0.