Dow Up 5%+: Covid-19 Cure or Biden? Gold Tanks

Pfizer announced this AM that the Covid-19 vaccine being developed by Pfizer Inc. and BioNTech SE prevented more than 90% of infections in a study of tens of thousands of volunteers, the most encouraging scientific advance so far in the battle against the coronavirus.

Eight months into the worst pandemic in a century, the preliminary results pave the way for the companies to seek an emergency-use authorization from regulators if further research shows the shot is also safe.

US Treasuries? The 10-year Treasury Note rose 10.8 basis points.

Gold?

For commodities, gold is down 4.52% while silver is down 6.46%.

A possible cure to the infection caused by Covid or a career bureaucrat that has been in DC for 47 years with little to show for it? I’ll go for the Covid cure!

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