Singular Journal - Securities house

The uncertainty of the Omicron

At first they named it "B.1.1529", but this is an unusual name to comment on the mutation of a virus that has caused so much damage. Instead, they decided to call it Omicron, and while the Americans were celebrating Thanksgiving, the problems began with the disclosure of the new strain, which originated in South Africa.

Flights suspended

The United Kingdom and Singapore will temporarily ban flights from South Africa and also from five other African countries due to concerns about the new variant. While different versions of the virus are discovered quite frequently, the reactions of recognized scientists always raise concerns and doubts. The number of mutations and the difference from previous incarnations have set alarm bells ringing and no one knows exactly what will happen next.

However, amidst abundant vaccines and emerging treatments, Europe is much better equipped to deal with the pandemic than it was last winter. Wall Street's top strategists are reassured. Morgan Stanley, JPMorgan Chase and Goldman Sachs Group have all said that the recent reinfection in the region is temporary and the market will continue to rise over the next year, perhaps prematurely pre-empting the Omicron results, which scientists know about.

In any case, only 6.6% of Africans are fully vaccinated, which means that there is still no shield against a catastrophe on the continent with more than 1.3 billion people.

Cases have already been identified in Hong Kong, Israel and Europe.

Friday saw massive crude oil sales, with pullbacks not seen in more than a year, apparently breaking the uptrend that persisted since the pandemic confinements last year. 

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