Joe Biden And Coronavirus..The Markets And The First 100 Days
President Biden is a firm believer that for the United States economy to prosper; they first need to control and eliminate the Coronavirus. He has previously described America’s Coronavirus vaccine rollout as “a dismal failure thus far” and vowed to “move heaven and earth to get people vaccinated.”
Many analysts and critics feel his frustration, as they had a whole year to prepare for a Vaccine eventuality, only for the infrastructure not to be ready once the vaccine was.
Coronavirus’ Effort and its potential effect on the markets:
President Biden vows a goal of 100 million shots by the end of his 100 days. The market will most definitely hold him to his word. Assuming 100m citizens are vaccinated, almost 1/3 of the United States population, they would have taken a closer step to herd immunity. The effects of herd immunity will most likely be laggard – however, it will ultimately be a tailwind for equities and a possible short term tailwind for risk-off assets such as Gold.