Vaccine a boost for emerging market economies, says strategistBusiness | 23 Nov 2020 10:02 pm
Emerging market economies should benefit from the AstraZeneca-Oxford coronavrius vaccine, says Stephen Innes, chief global markets strategist at Axi.
“The world should be jumping for joy as the AstraZeneca delivery is a big deal as most of the developed world will be able to immunize its most at-risk population to coronavirus by the spring and likely the entire community by mid-year.''
He added: “Equities up, commodities up, bond curves bear- steepen, dollar down. Risk sentiment improves as the AstraZeneca-Oxford vaccine shows 70 percent effective for participants with coronavirus, with the effectiveness rising to 90 percent for using half a dose followed by a full one. The AstraZeneca-Oxford vaccine should benefit many EM countries as it costs only a fraction of the others and will be manufactured in EM countries from India to Brazil.''