2021 Global Outlook
Ivy Investments believes the path forward requires a disciplined approach that combines resilience and a reliance on the fundamentals of active investing.
Broad immunity in the U.S. population is material when thinking about a full economic reopening. When can that happen?
We believe vaccines from both Pfizer and Moderna will quickly receive emergency-use authorization from the U.S. Food & Drug Administration. We think the effectiveness of the Moderna vaccine will be similar to that of Pfizer’s. This means significant immunity can be reached in the U.S., even if less of the population participates in the vaccination program than anticipated. Given our estimates of vaccine availability from these suppliers alone, it’s feasible that the U.S. could develop broad immunity against COVID-19 by late summer of next year. We also should be able to greatly reduce spread, hospitalizations and deaths between now and then.
Source: The Covid Tracking Project, Ivy Investments. Dates shown are April 1, 2020 through November 8, 2020. This chart is being provided as a general source of information for education purposes only, and is not intended as a recommendation to purchase, sell, or hold any specific security or to engage in any investment strategy.