More good news on the vaccine front has delivered another confidence boost to global markets with Wall Street building on Friday’s record highs and European markets nearing breakout from the post-trough bottom-to-top range. Moderna’s positive vaccine news came exactly one week after Pfizer’s with much the same impact on the market. It may not quite be the game-changer of a week ago, but it adds further support to some of the back-to-normal, value type rotation which has been the outstanding impact on markets so far and had reasserted itself by last Friday after a mid-week pause.
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