Business
A successful vaccine spells trouble for some investors – Sydney Morning Herald
2020 has been a challenging year for bond investors. The announcement of a prospective vaccine has thrown them another curveball.
Then came last weeks Pfizer announcement of the success, in a trial, of its vaccine. Ten-year bond yields spiked to almost one per cent before slipping back to about 90 basis points at the end of the week.
That late slide in yields came as it dawned on bond (and equity) investors that even if the vaccine were cleared for distribution it would take many months and the creation of a very complex new distribution system before there could be sufficiently wide distribution for the vaccine to have a…
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