(COVID-19 remains a global crisis and we realize that many people need to keep up with COVID-19 developments, particularly since we are moving into the more critical stage ("restart economy"), so feel free to share our commentary with anyone who has interest.)

We received incrementally positive news Wednesday from Pfizer and BioNTech concerning a joint COVID-19 vaccine effort. Their first clinical trial shows positive results and specifically, those receiving this vaccine showed high levels of neutralizing antibodies (1.8-2.8X that of recovered patients).

This adds to the Dr. Anthony Fauci’s belief that some type of commercial vaccine will be available in early 2021. If this is the case, the pathway to putting COVID-19 behind is visible. Another positive is that President Donald Trump publicly supported the use of masks, deflating it as a political issue.

Looking at the next 6 months (2H2020), we see equity markets in the hands of buyers for the following reasons: total infection rate in the US likely has peaked; the new epicenter states, FL, AZ, CA, TX, (F-CAT) are course correcting and potentially <2 weeks from peak; there are >11 states which show the economy can be opened safely including NY, NJ, CT, etc.; Europe is also showing opening the economy can be do...

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Macro subscription is required in order to access this content.

*Free trial available only on a monthly plan

More from the author

Disclosures (show)

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 2/2

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 2 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In

Want to receive Regular Market Updates to your Inbox?

I am your default error :)