i-Wire: Market Update 16th November

i-Wire: And then there was light... If we believe that tomorrow will be better, we can bear a hardship today. (Thich Nhat Hanh, Vietnamese spiritual leader) In this most depressing and challenging of years we have had a week which has finally brought us some hope with the announcement of the Pfizer vaccine study results as unexpected as it was welcome. The dedication, innovation and determination of the global biotech and pharmaceutical industries to produce a whole array of vaccines and prepare for the vast logistical challenges of worldwide immunisation is both humbling and inspirational. Once again, our appreciation of who are the true ‘key workers’ in our society has become self-evident. The vaccine will make little difference to the challenges we face this winter but is a beacon of hope for the spring and beyond. Turning to politics,  it is not our role to exhibit personal preference but we suspect most of us will be pleased to see the back of Donald Trump and his chaotic, abrasive and divisive style of government. We welcome instead President-elect Joe Biden who we hope will heal social divisions at home and restore the US’s traditional moral authority and leadership abroad. One senses [...]