Key Takeaways Another Covid-19 vaccine joins the party Markets continue to be driven by pandemic news with optimism in vaccine progress supporting risk assets. The positive trials announced by Pfizer-Biotech and Moderna had lifted stock markets, signalling a potential end to the lockdowns. For the third Monday in a row, a rival pharmaceutical company announced its trial results – AstraZeneca-Oxford reported an average efficacy of 70% but doubts have since risen about the conduct of the trials. In one of the subgroups, the participants were limited to age below 55 and received a half-dose followed by a full dose, making the efficacy of 90% looked like a lucky break. Markets have taken notice and AstraZenca lost almost 7% since the announcement. Janet Yellen is the Treasury Secretary we need Joe Biden, the U.S. president-elect, is expected to nominate former Fed chair, Janet Yellen as his Treasury Secretary. If confirmed by the Senate, Y...