- Experimental vaccine found to be over 90% effective in preventing COVID-19
- No serious safety concerns have been identified as of first interim analysis
- Plans to seek US emergency-use authorisation soon after reaching safety milestone in late November
S&P 500 futures just hit a record high and are up by over 2% now with USD/JPY rising to a session high of 103.92 and closing back in on the 104.00 handle.
Notably, bonds are selling off as well with 10-year Treasury yields jumping from 0.81% to 0.85% currently as risk assets rally on the headlines above.
The news is undoubtedly good in terms of the vaccine development and effectiveness, and that just bolsters sentiment that there are ‘good times’ to look forward to.
Coupled with the election relief/euphoria, this should see US stocks open at all-time highs in just a few hours from now