A step forward for AstraZeneca’s vaccine
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The company announced the results of a U.S. trial this morning that find the vaccine is highly effective. Plus, continuing to keep an eye on U.S. Treasury yields and interest rates. And, pandemic relocation to Hawaii for some remote workers.
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AstraZeneca says vaccine 79% effective against COVID
Marketplace's Nancy Marshall-Genzer has more.
What's driving Treasury yields up?
Julia Coronado, founder and president of MacroPolicy Perspectives, has some insight. "I think the fiscal package that needs to be financed is certainly one of the reasons that yields have moved higher," she said. "That's both because the market needs to absorb all of that debt issuance, but also it's a reflection that that stimulus is going to lead to stronger growth, maybe a little bit higher inflation, and that means that yields should be higher, anyways." In other words, there's more supply and better prospects for the economy that are leading yields higher. But Coronado said this isn't a problem right now. "Yields are still very low. We're back at the interest rates we saw pre-pandemic, which were very low." She said "it's nothing that has gone so far that we worry about it derailing the economy."
Workers freed of geographic constraints may want to relocate, and Hawaii wants to capitalize on their mobility and skills.