Delta Variant vs Inflation


Source: Deutsche Bank

 

A couple of weeks ago, we discussed The Economic Risks from Anti-Vaxxers. It was a deep dive into the risks to the economic recovery presented by those who for a variety of reasons (most of which are nonsensical) refuse to get jabbed.

That view was — briefly — an outlier position. It only took 2 weeks for the danger of the new Covid-19 variants to persuade 63% of institutional readers of the danger from the Delta Variant. The chart above is (via Jim Reid) reveals that Delta “overtook inflation worries as the largest risk to markets” — now far more worrisome than inflation at 42%.

It is just a reminder of how quickly sentiment changes.

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