Vaccine News Causing Risk Premia Collapse = P/E Upside
Sep 4, 2020
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Daily COVID-19 cases saw a surprising improvement Wednesday with daily cases coming in at 38,377 which is down -5,235 vs 7D ago. Typically, Wednesday cases see a big surge vs 1D ago (usually up +6k or so) but was flat. This is a break in pattern vs the prior 10 days where daily cases were flat vs 7D ago. I don’t want to jump the gun, but this positive surprise to the downside is a nice inflection. Perhaps the surge associated with back to school is being offset by the organic retreat in cases.
This week, there was no new outbreak in NY tristate nor Northeast, no new outbreak in 4 epicent...