Vaccine the next pivot point for markets – The Australian Financial Review

The fourth phase was the earlier-than-expected April peak in infection curves in Australia, Western Europe and New York, which allowed nations to exit their lockdowns and kick-start economic activity over May and June.
A fifth phase has been the advent of secondary outbreaks, such as those seen earlier in Singapore and Japan, and more recently in Beijing and Victoria, coupled with the emergence of New York-like first waves in California, Texas, and Florida.
Given the lack of centralised policy…

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