Macquarie says vaccine changes everything, and nothing – The Australian Financial Review

Australian 10-year government bond yields traded at 1 per cent on Wednesday afternoon for the first time since September 8.
As longer-dated, risk-free yields rise, the equivalent future cash flow growth projections of tech businesses become less attractive to investors given the risks the cash flows miss expectations.
According to Macquarie, a viable vaccine to contain COVID-19 will be widely available across developed economies by the middle of 2021 to power a rebound in earnings as companies cycle…

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