Moderna CEO, Stéphane Bancel, remarks in an interview with the FT
- There is no world where the effectiveness is the same level
- I think it is going to be a material drop, not sure by how much
- All the scientists I talked to said that "this is not going to be good"
- Full interview (may be gated)
This seems to be what is triggering the drop in risk trades as I am struggling to see any other notable headlines around this time.
If "no news is good news" helped to keep markets calm yesterday, this headline in particular is not exactly encouraging for what we will expect to see in the weeks to follow.
Risk trades are starting to see a steeper fall now across the board with the yen, franc, and dollar being the beneficiaries at the moment in the FX space.
