Pundits turn to vax watch
There is definitely an upside risk to our existing NODX forecast of 2 percent, and are now looking at a 2 percent-4 percent forecast, assuming that the global vaccine-aided recovery theme continues to take root and blossom into the second-half
From infection rates, investors have shifted to browsing the speed of inoculation in different nations signifying the main concern of market players on the pace of recovery in different markets.
The daily pace of new doses administered decreased to 2.2 million in the European Union and 3.3 million in the United States and remained at 0.4 million in the United Kingdom.
“While daily vaccinations in the UK have dropped, much of the vulnerable population remains vaccinated, likely limiting the risk of future lockdowns due to high hospitalization rates,” Regina Capital Development Corp. managing director Luis Limlingan said.
The share of the population having received a first shot stands at 61.7 percent in Israel, 47.6 percent in the UK, 37.3 percent in the US, 17.6 percent in Spain, 16.8 percent in Germany, 16.7 percent in France, and 16.2 percent in Italy.
In the Philippines, Department of Health (DoH) and the National Task Force Against Covid-19 data indicated 1,255,716 doses have been administered nationwide.
This translates to 0.99 percent of the country’s estimated 110 million population having at least one shot of a Covid-19 vaccine and 0.15 percent who have received two doses.
Rising infections worrying
Many regional stock markets lagged global shares last week as upbeat US retail sales and manufacturing data, as well as record first-quarter economic growth in China were offset by worries over surging infections.
Equities in the Philippines, Malaysia and Indonesia slipped between 0.2 percent and 0.8 percent.
In Singapore, stocks scaled a more than one-week peak after the city-state’s non-oil domestic exports (NODX) expanded 12.1 percent in March.
While daily vaccinations in the UK have dropped, much of the vulnerable population remains vaccinated, likely limiting the risk of future lockdowns due to high hospitalization rates.
“There is definitely an upside risk to our existing NODX forecast of 2 percent, and are now looking at a 2 percent-4 percent forecast, assuming that the global vaccine-aided recovery theme continues to take root and blossom into the second-half,” analysts at OCBC Bank said.