I’m not dead yet says SARS-Cov2
One hundred and forty four thousand infections were recorded in the US yesterday. Yes, that’s a lot. More than the 92 patients who caught Covid in the Pfizer trial. Maybe investors are starting to worry about what happens if the virus mutates, or resistance is very short lived, or it’s impossible to produce and distribute at economic rates, or it causes death and blindness in 0.2% of those vaccinated.
Market Wrap
A risk-off day. The dollar is sinking, even against TRL, although not against GBP. DX is down 10bp, at roughly 93. Precious metals are up, other commodities are down, oil by 1.2%. Aluminium is an exception. Yields are basically flat. Nearly all stock markets are down.
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