The good news continue to roll in the vaccine space
- No participant who got the vaccine developed severe coronavirus symptoms
- Vaccine stable for 30 days at refrigerator temperature
- Phase 3 study vaccine efficacy of 94.5%
This was very much an expected development as pointed out last week here. But it is still enough to get investors excited on the day.
The big difference compared to the Pfizer announcement is that the vaccine here can be stored at refrigerator temperature for 30 days, and that will allow transportation much easier compared to Pfizer's supposed vaccine.
Moderna stocks have jumped by more than 10% upon the announcement.
The news has given risk assets another pop on the session, with US futures climbing to over 1% before paring back those gains slightly. Treasury yields have also turned positive with 10-year yields now up 3 bps to 0.926% and that has dragged USD/JPY to 105.00.
