The vaccine was 57 per cent effective in South Africa, where the 501.v2 variant first emerged, compared with 72 per cent in the US and 66 per cent in Latin America. That’s not great even if countries need a bigger number of vaccine producers.
Moderna is reducing its shipments to France and Italia. Astrazeneca is close to lawsuit with European countries.
The market close tonight was ugly but not catastrophic. If Monday, the S&P500 is not back above its 50d MA, we will hedge all our strategies.
The GAP of temporality between what Markets are priced and what the economy will be able to deliver is now gigantic.