We have all been hopeful that a vaccine could be developed for the coronavirus, and these hopes were not vain. Pfizer and Moderna's promising results are just the tip of the iceberg, and in the coming weeks, more results from other companies are expected.
There is more stimulus to come. The European Central Bank (ECB) is the obvious candidate. It has all but promised to increase and extend its emergency bond-buying program and new low-rate loans.
The political elites and apparently a large part of Poland and Hungary do not accept some of the premises of Brussels' liberal, progressive, secular worldview. This seems vaguely similar to the so-called culture war in the US, where the vast majority of Americans in rural counties voted for Trump in higher numbers than in 2016.
With the surge of COVID cases and social restrictions biting, economists have begun forecasting a contraction in the eurozone in the fourth quarter. The U.S. economy has lost some momentum. This was driven home last week by the weakness in October retail sales.
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