Posted To: MBS Commentary

On back to back Monday mornings at 6:45am, both of the frontrunner covid vaccine trials have announced surprisingly strong late stage results (Pfizer last week and Moderna today). While it's still early to know how long-term efficacy and safety will pan out, if anything is capable of instilling optimism in financial markets (and the global community in general), this is it. But the tangible justification for that optimism also comes with a fairly lengthy waiting period. And between now and then, we have the world's most severe spike in covid case counts to deal with heading into the winter months. It remains to be seen how markets will balance huge short-term downsides for the economy (not to mention the "permanent" changes that may endure post-covid) with longer-term hope…(read more)

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Source: Mortgage News Daily