Pfizer vaccine

Pfizer’s Vaccine Breakthrough Sweet Nectar For Corporate Bonds

Mondher Bettaieb Loriot / Claudia Fontanive-Wyss (Vontobel AM) | The recovery takes hold now that a Covid-19 vaccine is on the immediate horizon. Pfizer has announced that they, together with BIoNTech, are the first drugs-makers to achieve credible positive readings on the effectiveness of their Covid-19 vaccine trials. The recovery stage is generally the sweet spot for corporate bonds and credit spreads as corporates further increase cash flows, act for the benefit of bondholders and, in the end, reduce leverage.