2021 is billed as the year of recovery. And there is good news on that front.
Pfizer (NYSE: PFE), one of the pioneers in engineering a working vaccine for the disease, recently confirmed that its vaccine is 94 per cent effective in preventing infections, using real-world data obtained from Israel.
Meanwhile, the European Union approved Johnson and Johnson’s (NYSE: JNJ) single-shot COVID-19 vaccine, the fourth vaccine to receive approval.
This move increases the number of vaccine options and raises the chance that most of the vulnerable in Europe can be vaccinated quickly.
And China has devised an international vaccine health certificate that it hopes will be recognised internationally, leading to borders reopening sooner than expected.
With the world working in tandem to beat the pandemic, investors can look forward to a nascent global recovery.
Sectors that were badly hit by the onset of the crisis should also see some respite later this year.