The global economy and financial markets are coming back from the impact of the coronavirus pandemic. For some key measures, the comeback is complete. With a big second-quarter advance, the level of real U.S. economic activity now has surpassed its pre-pandemic high. Many U.S. stock market indexes have posted all-time highs as well. Perhaps less welcome, inflation has reached rates not seen in many years. The rates of recovery for many economic and financial indicators are quite varied. As a result, confidence in outcomes from here remains a bit guarded. A review of some important factors can provide perspective for investing yet ahead.