Economic Outlook

Pfizer Analysts Raise Odds Of Success For Coronavirus Vaccine Candidate To 100%

Posted by Shanthi Rexaline

on Tuesday, 10 November 2020 8:55

Pfizer Inc. reported Monday with strong Phase 3 interim efficacy data for its coronavirus vaccine candidate.

The Pfizer Analysts: Morgan Stanley analyst David Risinger has an Equal-weight rating on Pfizer with a $42 price target.

SVB Leerink analyst Geoffrey Porges reiterated a Market Perform rating and increased the price target from $43 to $44.

Morgan Stanley On Pfizer’s Vaccine Economics, Timeline: The more than 90% efficacy with 94 cases suggests the final analysis with 164 cases will in all likelihood exceed the FDA’s efficacy criteria of 50%, Risinger said in a note.

Based on this and the lack of any serious safety concerns, the analyst raised the vaccine’s probability of success from 65% to 100%.

With Pfizer planning to submit emergency use authorization in the third week of November — when it has two months of median safety data — Risinger said he expects the FDA to hold a panel meeting to discuss the data by early-to-mid December. CLICK for complete article

Canadian Insolvencies Begin To Rise, Even With Support Measures In Place

Posted by BetterDwelling

on Tuesday, 10 November 2020 8:52

Canada is pulling all of the measures to make sure households and businesses don’t go bust, but it’s just time for some. Office of the Superintendent of Bankruptcy (OSB) data shows insolvencies increased in Q3 from the previous quarter. The quarterly increase is somewhat surprising, considering the number of lender support programs.

Canadian Insolvencies Rise 7.9% In Q3

Insolvencies are climbing as lockdowns ease, although they haven’t gone above last year’s levels. There were 35,535 insolvencies filed in Q3 2020, up 7.9% compared to the previous quarter. This also works out to a decline of 40%, when compared to the same quarter last year. Not as high as last year, but they’re rising even amongst a more lender friendly environment….CLICK for complete article

Can we react better with THORIUM?

Posted by Martin Straith, The Trend Disruptors by The Trend Letter

on Monday, 9 November 2020 14:50

There have been few significant changes in the cleanliness of nuclear reactors since the first electricity generating reactor was brought onto the power grid in Obninsk, USSR, in 1954. The low carbon emissions from nuclear reactors make them one of the greener methods for generating electricity, and a good fit with the “green” initiatives envisioned for addressing climate change. Reducing carbon emissions and greenhouse gases are important parts of many comprehensive plans to mitigate human-caused climate change. Such plans include a broad range of “green” ways to generate electricity, such as solar panels, wind turbines, hydro electric dams, underwater tidal kites, ocean wave generators, and several other innovative…Click for full article.

Investors Ignore Evidence At Their Financial Peril

Posted by Lance Roberts

on Monday, 9 November 2020 10:06

Some of my favorite movies are when a group of investigators tracks down “wrong-doers.” At first, they have only a few clues that are disparate and have little context. However, as the movie progresses, the clues coalesce into a meaningful outcome of catching the villain. In the financial markets, our job as investors is much the same. However, at the peak of bull market cycles, investors begin to ignore evidence at their financial peril. 

Let’s take a look at the clues which may be more meaningful than individuals are currently assuming.

Clue 1: Valuations Expensive On Every Level

“Market bubbles have NOTHING to do with valuations or fundamentals.”

I have touched on the impact of valuations and forward returns. Currently, these fundamental concerns remain devoid of attention by investors chasing short-term performance. Despite the March selloff, record numbers of unemployed, and a deep recession, the markets remain near all-time highs.

“We are in a crisis, the worst crisis in my lifetime since the Second World War. I would describe it as a revolutionary moment when the range of possibilities is much greater than in normal times. What is inconceivable in normal times becomes not only possible but actually happens. People are disoriented and scared. They do things that are bad for them and for the world.”- George Soros

As shown in the chart below, the S&P 500 is trading in the upper 90% of its historical valuation levels…CLICK for complete article

Bitcoin Heads Towards $16,000 And No One’s Cashing In

Posted by Tom Kool

on Monday, 9 November 2020 9:51

Bitcoin has soared by more than 10% in the past two days, overtaking the $15,000 mark for the first time since January 2018, with experts speculating it could reach $20,000 soon, back to its 2017 peak.

The crypto currency is now becoming the world’s favorite safe haven.

“It was important for bitcoin to overcome the resistance area near $12,000,” Alex Kuptsikevich, FxPro senior financial analyst, told Forbes.

The fear factor plays into this, of course, and we saw it in 2016 presidential elections, too. Then, the price of bitcoin was around $709 before it climbed towards $20,000.

But this time around there’s history to learn from, in addition sentiment–as well as a series of positive moves towards bitcoin, including PayPal’s big tie-in to the crypto.

PayPal customers will now be able to use cryptocurrencies to pay merchants beginning in early 2021.

Last month, PayPal secured the first conditional cryptocurrency license from the New York State Department of Financial Services, the first approved entity for a conditional Bitlicense in New York State.

By many accounts, PayPal’s move makes crypto “useful”–to the mainstream.

With prices riding above $15,600 at the time of writing, it’s hard to argue–as many do–that it will end up crashing into oblivion.

Andy Edstrom of California-based WESCAP Group recently said that one bitcoin will be worth $400,000 by 2030.

Germany’s largest lender, Deutsche Bank, suggests that cryptocurrencies could replace cash payments within the next decade.

Bitcoin has witnessed strong growth this year during the COVID-19 pandemic, with the Bitcoin more than doubling in value year-to-date.

And mainstream companies keep jumping on board…CLICK for complete article