11.17 The gap between expectations for the COVID-19 vaccine and the real economy
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※This article is not intended to indicate or recommend buy/sell timing.
Please make your own investment decisions.
Market Summary
Following the approval results of Moderna's COVID-19 vaccine, the stock market rose significantly, but the gains narrowed as economic indicators worsened.
In Europe and the U.S., the economy is shrinking due to the spread of COVID-19, and headlines about vaccines are causing fluctuations.
What I sensed from the recent price movements is that the upside is much heavier than imagined.
I also observed that hedging in yen is larger than expected.
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