Market expectations for inflation are rising. As the Covid-19 vaccine rolls out, restrictions on activity are lifted and stimulus is enacted, those expectations are likely to continue to rise, with early data looking to confirm this. In many nations the next political discussion revolves around an infrastructure package and what would further spending packages do to inflation as we ebb towards recovery. Coupled with supply shortages and continued stickiness in the labour market some economists and investors begin to raise red flags. In this panel we discuss the effect and drivers of inflation, where these rises are likely to hit and the opportunities and challenges created from asset class to asset class.