Why is Pfizer’s announcement about the vaccine for Covid-19 important for markets?
The pandemic destroyed the world’s economy by burning the earnings of decades in a few weeks: the unexpected black swan of the markets had arrived.
The announcement of a vaccine with 90% efficiency gives hope to the markets to finally see a way out of this health and economic crisis.
Without a valid vaccine we will not be able to defeat the coronovavirus and thus restart consumption and the economy.
However, it will take years to recover the losses caused by this pandemic.