Optimism about the global economic recovery will continue to drive stock markets higher in 2021. The timeline for the delivery of vaccines is becoming increasingly clear. On Dec 11, the US Food and Drug Administration (FDA) cleared Pfizer-BioNTech’s vaccine for emergency use in the US. This was promptly followed by approval from the Centers for Disease Control and Prevention, which officially kick-started shipments to distribution centres nationwide and the rollout of inoculations for people over the age of 16. The vaccine from Moderna will be ready for use hot on the heels of Pfizer’s, as the second vaccine to receive FDA approval late last week.

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