Markets

‘A Pivotal Moment’

Global equities found quite a bit to like in trade news and economic data out of Asia on Monday. Stocks were buoyant after activity data for October suggested China's economic recovery is on track, while a new regional trade deal covering AsiaPac suggests multilateralism isn't dead after all. Just before 7 AM in the US, Moderna released preliminary data for its COVID vaccine. As expected, the news was good. In fact, Moderna's results were even better than Pfizer's, at least on a quick read. Vaccine efficacy was 94.5%. Assuming the market doesn't find something in the readout to give investors pause, this will likely catalyze a similar bout of optimism to what played out a week ago after Pfizer released its data. “This is a pivotal moment in the development of our COVID-19 vaccine candidate. Since early January, we have chased this virus with the intent to protect as many people around the world as possible," Moderna CEO Stéphane Bancel said. "All along, we have known that each day matters. This positive interim analysis from our Phase 3 study has given us the first clinical validation that our vaccine can prevent COVID-19 disease, including severe disease." The company says
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2 comments on “‘A Pivotal Moment’

  1. Vlad is Mad says:

    trade the news, even if largely anticipated, seems to be the modus operandi of this market which has forgotten that it is supposed to have already discounted such things

  2. Ria says:

    Success rates on a preliminary basis over 90% is better than expected. This is good news, but we are going to be dealing with covid for an extened time even so. Good luck to all.

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