Curbing transmission

Today's news headlines: 

‘UK’s Johnson to say all schools in England to open March 8’. Prime Minister Boris Johnson will make a statement this afternoon outlining his roadmap for reducing lockdown measures in the UK. From 8th March schools will reopen to all pupils and people will be allowed to meet one-on-one for an outdoor picnic. He is expected to allow further social contact from 29th March including outdoor social gatherings of six people or two households. There will be a gap of a few weeks between each step, in order to test the impact of easing lockdown against four main criteria. This criteria is centred around the vaccination programme, infection rates and the risk of new variants. (Bloomberg)

‘Pfizer-BioNTech shot stops Covid spread, Israeli study shows’. The Pfizer and BioNTech vaccine has successfully stopped the majority of Israeli vaccine recipients from becoming infected with coronavirus. This is the world’s first indication that immunity also curbs transmission of the virus. According to a draft publication posted online, the vaccine was 89.4% effective at preventing lab-confirmed infections, although some scientists are wary of its accuracy due to lack of peer-reviewing. Separately, Israel–who has vaccinated more people per capita than anywhere in the world–said the vaccine was 99% effective at preventing COVID related deaths. (Bloomberg)

Today's events, rates, and data 

  • The sell-off in bond markets continued overnight, led by Australia and New Zealand amid inflation fears, while metals and oil prices climbed. US and European equity futures dipped, while the US Dollar ticked higher.

Today's events

German IFO Surveys: 09:00
ECB’s Lagarde speaks at European Semester Conference: 13:45
Fed’s Kaplan speaks at International Energy Forum: 14:00
Conference Board US Leading Index: 15:00

Interbank rates

GBP/USD: 1.4000
GBP/EUR: 1.1550
EUR/USD: 1.2120
USD/CAD: 1.2635