Israel covid study shows some reason for caution, some reason for optimism
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Vaccine only 39% effective in preventing infection
I believe the main question that markets continue to ask regarding covid is this: Does the vaccine work? So long as the answer is ‘yes’, the risk trades can continue to move higher. A study today is raising some troubling questions.
Israel’s health ministry today is reporting that Pfizer’s covid vaccine is far less
effective at preventing infection and symptomatic illness with the
Delta variant than with previous strains.
They reported that it was just 39% effective at preventing infections, down from 64% in estimates two weeks ago.
The good news is that both studies show high protection against severe illness. The Israeli study pegged it as 92% effective against hospitalization and 91% against severe illness. Ultimately, that’s the main question regarding vaccines, though long covid and other complications don’t necessarily indicate hospitalization.