Pfizer and BioNTech SE offered to supply South Africa with COVID-19 vaccine at a discounted $10 a dose, according to Bloomberg. The price was worked out according to South Africa’s classification as a middle-income country. The price offered to South Africa is half of what the drugmakers are charging in the U.S. despite the president’s office terming it prohibitive.The … [Read more...] about Pfizer Offers South Africa Discounted COVID-19 Vaccines
Forex News
Germany to Extend Coronavirus Curbs Despite Criticism over Vaccine Rollout
Germany officials will hold preliminary talks on Monday on extending stricter lockdown measures beyond January 10, according to Bloomberg. The lockdown measures include closing schools and non-essential stores even as the government faces criticism over the vaccination program's delays. Reports have held that authorities have agreed to prolong curbs until January 31The … [Read more...] about Germany to Extend Coronavirus Curbs Despite Criticism over Vaccine Rollout
U.S. Record-low Mortgage Rates Push House Affordability Unexpectedly Lower
U.S. home buyers needed to spend almost 30% of their average wage to afford a typical house in the fourth quarter, according to Bloomberg. The rate is the biggest share since 2008 despite borrowing costs hitting a record low of below 3% for a 30-year loan. Analysts link low mortgage rates to the fall in affordability as it spurred a buying frenzy, driving prices up as … [Read more...] about U.S. Record-low Mortgage Rates Push House Affordability Unexpectedly Lower
Stocks Dust Off Challenging Year to Close Near Record Highs, Dollar Slips
U.S stocks hit near record highs as traders weighed on economic optimism fueled by government aid, reports Bloomberg. Attention now shifts at how fast vaccines can be distributed even as the dollar slipped. Here are the key moves in the markets: StocksThe S&P 500 Index rose 0.1% as of 10:55 a.m. New York time on Tuesday while the Stoxx Europe 600 Index gained 0.8%MSCI … [Read more...] about Stocks Dust Off Challenging Year to Close Near Record Highs, Dollar Slips
Why the Pandemic Showed Fed Matters in Crisis-hit Markets
Fed’s action during the early days of the coronavirus pandemic stemmed a rout in markets and kept financial costs low, according to Reuters. Fed restored trust in fragile moments, proving its critics wrong of role in preventing financial crisis. When the coronavirus crisis intensified in March, Fed’s initial moves propped up trading in Treasury bonds, short-term … [Read more...] about Why the Pandemic Showed Fed Matters in Crisis-hit Markets
