News That Matters

Morgan Stanley’s biotech analyst sees a coronavirus second wave and additional lockdowns

A customer walks past a billboard reminding people of social distancing at a shopping mall in New York, June 22, 2020.

Wang Ying | Xinhua via Getty

(This story is only for CNBC Pro subscribers)

A sustained resurgence in coronavirus infections should emerge this autumn in tandem with the arrival of flu season and bring with it more targeted lockdowns across the nation, Morgan Stanley warned clients.

The brokerage’s biotechnology analyst Matthew Harrison wrote that his base case scenario projects a “second wave” in the fall with daily new cases summing between 40,000 and 50,000 nationwide.

Investors often listen to Harrison in greater numbers for his success in predicting the course of the pandemic and government responses. 

In April, for example, the analyst warned the reopening of the U.S. economy would be a slow, long and tedious process. He wrote at the time that he expected some workers to return to work starting in June and other employees to gradually trickle back to the office throughout the summer into autumn.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *