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2020/11/19 / Erste Group Research

Optimisms persists thanks to vaccine research

Just one week after Pfizer and BioNTech presented their promising COVID-19 vaccine, Moderna followed suit, presenting another new hope on the vaccination front. Both candidate compounds are to go through an accelerated approval process and are to be produced and distributed to the first groups of people before the end of the year. Other manufacturers in the race are AstraZeneca and Johnson & Johnson.

The multiple prospects for a corona vaccine have a positive effect on financial markets. It will take some time before this optimism reaches the real economy: We expect that corona-related restrictions will continue to weigh on the European economy until the end of 1Q 2021. From 2Q onward we expect a significant acceleration in growth.

As if Europe did not have its hands full with the containment of the Corona pandemic, political tensions are now rearing their head as well: EU member states Hungary and Poland are blocking the decision-making process for the multi-billion euro EU financial package.

In the meantime Asia is preparing for the next economic upswing. After eight years of negotiations, China and 15 countries in the Asia-Pacific region have signed the largest free-trade agreement in the world.

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General information

AuthorErste Group Research
Date2020/11/19
Languageen
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusAustria, Eurozone
Currency in focusEuro
Sector in focus-
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