Vaccine promise boosts risk bid in corporate capital markets

Covid_vaccine_575px_Adobe_26June20
By Aidan Gregory, Mike Turner, Sam Kerr
12 Nov 2020

Hope of a Covid-19 vaccine ignited risk appetite for equity and corporate credit this week, as companies in struggling sectors enjoyed soaring share prices and printed bonds through fair value, write Mike Turner, Sam Kerr and Aidan Gregory.

US drugs firm Pfizer and German biotech company BioNTech said on Monday that a Covid-19 vaccine they are developing had a 90% success rate in late-stage trials. That sent asset prices rocketing on Monday, despite the numerous hurdles the pharma duo have to face between this point and ...

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