Stocks up as vaccine shields against second-wave worries

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Stock markets gained on Wednesday, as news of a working COVID-19 vaccine seemed to inoculate investors against worry about surging infections in Europe and the United States, while the kiwi rose as traders thought the central bank sounded upbeat.

That came with a big selloff in U.S. Treasuries and the Japanese yen, even while COVID-19 deaths have crossed 300,000 in Europe and keep rising in spite of a second series of social restrictions as the northern autumn turns to winter.

“The rate of change that we’ve seen in the U.S. bond market over the last few days is just not sustainable,” said Chris Weston, head of research at broker Pepperstone, who is looking for more easing from the U.S. Federal Reserve next month. “Given the shaky patch that we know we’ve got to navigate through, which is going to be a very dark winter in the U.S...I just can’t see a situation where the Fed don’t do something to keep nominal bond yields in check.”

Investors are also looking to hear from European Central Bank president Christine Lagarde about the European economic outlook and stimulus prospects in a speech at 1300 GMT.posted its highest close since March on Tuesday at 0.9720%. [US/]

 

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1 week later: Investors sell stocks after realizing the vaccine will take months to roll out.

😎

We’re on our third wave ffs.

Vaccine compliance will be low because people are dumb.

What vaccine? It’s still not out there for everyone.

Hello no...... That vaccine is deadly. Thank thank you but noThank you

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