covid-19

Increasingly stringent measures to restrict the spread of infections, including lockdowns or quasi-lockdowns across Europe, could push back or even reverse the pace and timing of recovery

Forecasts that BioNTech-Pfizer Inc. and Moderna Inc. might double sales of their mRNA vaccines to more than $93 billion in 2022, taking the overall Covid-19 vaccine market to nearly $125 billion.

Valentin Bissat, senior economist and strategist at Mirabaud Asset Management, has analysed the twelve most significant market shocks for the dramatic year (2021) using explanatory charts.

Only then would real yields rise enough to cause huge damage to bond and equity returns. The next six months will be “make or break” for both the pandemic and inflation.

Even Europe, by the MSCI index, has come to trade at pre-pandemic levels. But we are not like in April 2020. We know much more about the coronavirus and society is more prepared to deal with it.

We are concerned about the human toll and expect renewed restrictions on activity. We still favor equities for now, but would change our stance if vaccines or were to prove futile.