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Prosperity Investment Management provides you with a weekly update from markets across the globe.
In the US, Tuesday saw Joe Biden declare that he expected the nation to have access to a COVID-19 vaccine by the summer with a view to normal life across the country by December. The latest vaccine reports, however, showed less effectiveness against different strains of the virus whilst doubt circled as it was revealed that US soldiers were declining the jab over its long term health effects. American markets did experience intra-day records before pulling back slightly later in the week. However, they once again continue to flirt with all time highs.
UK Prime Minister Boris Johnson set out his plans to reopen the economy earlier this evening, June was touted, at the earliest.
Similar stories came out of Switzerland, with public space, museums and other areas planning a welcomed return soon. The FTSE 100 in particular continues to trade at an attractive discount compared to pre-COVID levels.
China has laid out a clear plan to reduce restrictions and bring the superpower back to conventional economic activity. Travel showed 71% down during January though, demonstrating the regime’s tentativeness to rush a return to pre-pandemic activity too quickly.
