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Billionaire Investor Ackman Discounts Impact of Delta Variant on Economic Rebound

July 19, 2021 by Forex Winner Leave a Comment

Billionaire Investor Ackman Discounts Impact of Delta Variant on Economic Rebound

Source: CNBC

Pershing Square’s Bill Ackman does not expect the global spread of delta Covid variants to have a significant impact on economic reopening.

SPY today is down -1.84%.

  • Ackman says the outbreak of delta variants could motivate more people to take vaccines, allowing the global economies to pick in the fall.
  • Despite causing an increase in vaccinations, the investor says the delta variant is less deadly and people could achieve herd immunity as they recover from the infections faster.
  • The investor expects higher interest rates to roar back, with the bond yields going up in the second half of the year following economic recoveries.
  • With Treasury yields down by 7 basis points on Monday to a five-month low of 1.22%, Ackman says the slide represents a buying opportunity for investors.
  • Ackman is optimistic of big rebounds in hotel, restaurant, and retail industries, which were hard hit during the pandemic.

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