• Latest
  • Trending
  • All

Covid cases in U.S. could be near zero in 6 months, UBS economist says

November 13, 2020 19:12
Dollar lacks upside momentum due to lower Treasury yields

USD bulls remain on the offensive across the market

August 19, 2022 09:53
Stocks erase gains as cautious tone persists in the markets

Markets mixed amid persisting global uncertainty

August 19, 2022 09:43
Dollar lacks upside momentum due to lower Treasury yields

Buying pressure keeps building surrounding the US dollar

August 18, 2022 08:47
Risk demand prevails after FOMC minutes

Stocks trend lower after FOMC minutes

August 18, 2022 08:37
Dollar lacks upside momentum due to lower Treasury yields

US dollar maintains bullish trajectory

August 17, 2022 07:08
Global stocks retreat after a plunge on Wall Street

Global stocks mixed-to-higher, investors stay cautious

August 17, 2022 06:56
Dollar lacks upside momentum due to lower Treasury yields

USD demand persists across the market

August 16, 2022 06:49
Euro rises despite а stronger dollar

Risk mood turns more measured, euro threatens parity again

August 16, 2022 06:42
Dollar lacks upside momentum due to lower Treasury yields

Dollar buoyed at the start of the week

August 15, 2022 05:39
Investors stay nervous as tensions escalate

Investors start the week on a cautious note

August 15, 2022 05:25
Dollar lacks upside momentum due to lower Treasury yields

Dollar tries to shrug off selling pressure

August 12, 2022 09:58
Equity markets mixed ahead of the weekend

Markets struggle for direction ahead of the weekend

August 12, 2022 09:42
  • Terms & Сonditions
  • Contact
Saturday, August 20, 2022
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Stocks erase gains as cautious tone persists in the markets

    Markets mixed amid persisting global uncertainty

    Risk demand prevails after FOMC minutes

    Stocks trend lower after FOMC minutes

    Global stocks retreat after a plunge on Wall Street

    Global stocks mixed-to-higher, investors stay cautious

    Euro rises despite а stronger dollar

    Risk mood turns more measured, euro threatens parity again

    Investors stay nervous as tensions escalate

    Investors start the week on a cautious note

    Equity markets mixed ahead of the weekend

    Markets struggle for direction ahead of the weekend

    Stocks climb marginally, pressuring the greenback

    Investors welcome cooling inflation, dollar sags

    Yellen failed to spook global markets

    Risk-off tone dominates global markets

    Stocks making recovery attempts, markets remain unstable

    Stock markets little changed amid cautious trades

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
  • FUNDAMENTALS
    Stocks erase gains as cautious tone persists in the markets

    Markets mixed amid persisting global uncertainty

    Risk demand prevails after FOMC minutes

    Stocks trend lower after FOMC minutes

    Global stocks retreat after a plunge on Wall Street

    Global stocks mixed-to-higher, investors stay cautious

    Euro rises despite а stronger dollar

    Risk mood turns more measured, euro threatens parity again

    Investors stay nervous as tensions escalate

    Investors start the week on a cautious note

    Equity markets mixed ahead of the weekend

    Markets struggle for direction ahead of the weekend

    Stocks climb marginally, pressuring the greenback

    Investors welcome cooling inflation, dollar sags

    Yellen failed to spook global markets

    Risk-off tone dominates global markets

    Stocks making recovery attempts, markets remain unstable

    Stock markets little changed amid cautious trades

  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage
No Result
View All Result
FWNews - pulse of the forex market
No Result
View All Result

Home » Covid cases in U.S. could be near zero in 6 months, UBS economist says

Covid cases in U.S. could be near zero in 6 months, UBS economist says

by FWNews
November 13, 2020 19:12
in News
0

LONDON — The latest coronavirus vaccine developments have brightened the outlook for the U.S. economy, with UBS economists boosting their GDP forecasts for the country. 

Pfizer and BioNTech announced Monday that their Covid-19 vaccine was more than 90% effective in preventing the infectious disease. The announcement fueled optimism that the pandemic could come to an end sooner rather than later, driving up stock markets globally.

UBS had originally estimated that the number of coronavirus infections in the U.S. would approach zero by the end of 2021, but the vaccine news has made the bank bring that forecast forward by six months.

“We might get a situation where reported cases of Covid in the United States fall very close to zero in Q2 (second quarter) of next year. That six month difference, that two-quarter difference matters a lot, it means an extra 1 to 1.25 percentage point gain in GDP next year,” Seth Carpenter, chief U.S. economist at UBS, told CNBC’s Joumanna Bercetche on Thursday.

He added that the vaccine news “was very encouraging” because the efficacy rate came in much higher than analysts were anticipating.

The United States has experienced more than 10 million Covid-19 cases since the pandemic started. The country has seen record highs this week in terms of coronavirus hospitalizations and daily infections, with 153,496 cases on Thursday, according to Johns Hopkins University.

This comes as speculation mounts on whether the U.S. economy will be shut down once again. An advisor to President-elect Joe Biden has said that closing businesses for four to six weeks could help reduce the number of infections and get the economy on track until a vaccine is approved and distributed.

With cases surging in Chicago, Mayor Lori Lightfoot asked residents on Thursday to cancel Thanksgiving plans and stay indoors.

Carpenter’s comments differ to the caution portrayed by experts such as White House coronavirus advisor Dr. Anthony Fauci. He warned on Thursday that a vaccine may not be enough to help eradicate the disease.

“I doubt we are going to eradicate this. I think we need to plan that this is something we may need to maintain control over chronically. It may be something that becomes endemic, that we have to just be careful about,” he said.

Fiscal support

The performance of the U.S. economy in 2021 will also depend on how much fiscal stimulus is approved. Talks between Democrats and Republicans have not yielded a deal, and there’s more uncertainty in the aftermath of the presidential election.

Carpenter believes U.S. policymakers will disappoint markets by providing a lower-than-expected support package.

“We are actually a little bit pessimistic here relative to where the market is, so we have written down about a $450 billion package that comes in Q1 (first quarter) next year,” he said. In speaking with clients, he said markets are expecting $1 trillion in fiscal stimulus.

UBS assumes that Republicans will retain control of the Senate. If the Senate were to be led by Democrats, the bank believes the stimulus could be near $1 trillion.

Share2Tweet1
ADVERTISEMENT
FWNews

FWNews

Track the pulse of the market

Related Posts

Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

USD bulls remain on the offensive across the market

August 19, 2022 09:53
12
Stocks erase gains as cautious tone persists in the markets
Fundamental analysis

Markets mixed amid persisting global uncertainty

August 19, 2022 09:43
14
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

Buying pressure keeps building surrounding the US dollar

August 18, 2022 08:47
22
Risk demand prevails after FOMC minutes
Fundamental analysis

Stocks trend lower after FOMC minutes

August 18, 2022 08:37
22
Dollar lacks upside momentum due to lower Treasury yields
Technical analysis

US dollar maintains bullish trajectory

August 17, 2022 07:08
24
Global stocks retreat after a plunge on Wall Street
Fundamental analysis

Global stocks mixed-to-higher, investors stay cautious

August 17, 2022 06:56
27

Leave Your Opinion Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Markets unfazed by the Fed meeting

Markets unfazed by the Fed meeting

April 29, 2021 05:59
14
Stocks mostly lower despite upbeat economic data

Markets look for rebound after plunge

June 14, 2022 04:51
17

Federal Reserve Board announces approval of application by Bangor Bancorp, MHC

October 22, 2020 20:27
10

Ads

Shneider Electric

Most Popular

A slow start to the week in FX markets
Technical analysis

Dollar regains ground to start the week

January 25, 2021 07:25
118
A slow start to the week in FX markets
Technical analysis

Greenback advances modestly amid strong data

May 28, 2021 07:38
110
Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war
News

Kim Jong Un reportedly says his nuclear weapons guarantee there will be no more war

July 28, 2020 08:29
95
FWNews

Copyright © 2022 FWNews

  • Terms & Сonditions
  • Contact
No Result
View All Result
  • FUNDAMENTALS
  • TECHNICALS
  • Interest Rates
  • Economic calendar
  • Backstage

Copyright © 2022 FWNews