Week In Review
- UK Q3 GDP
- US Q3 GDP
Thought Of The Week
Vaccine and Stimulus: So close yet so far
The narrative of vaccine-driven optimism and progress toward a stimulus package remains largely unchanged as it continues to support the stock market higher. The US Food and Drug Administration (FDA) decided on Thursday to approve Moderna’s vaccine on an emergency basis which could add millions of additional doses in coming weeks without the need to kept in ultra-cold storage unlike Pfizer/Biotech. Although this emergency use authorization is not a full approval, it allows widespread distribution with only children excluded. On the stimulus front, US congressional leaders are still trying to complete the deal by this weekend, extending the deadline from Friday, when funding for government operations was due to expire. A late stumbling block emerged again on Friday as both sides could not agree on the Fed’s lending programmes.