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CUSEF Express - January 19, 2022

2022-01-19
Daily highlights of developments that affect China and the U.S.
Daily highlights of developments that affect China and the U.S.

Covid-19 Pill Effective Against Omicron

Laboratory tests show that Pfizer’s new pill Paxlovid works against the Omicron variant. Canada has already approved the oral treatment on Monday. Pfizer is currently manufacturing Paxlovid in countries including Ireland and Italy and will soon have additional production facilities in France.

U.S. Stocks Fell as Bond Yields Reach Two-Year High

U.S. stocks dropped across the board on Tuesday as the yield of the 10-year Treasury note hit a two-year high at 1.87%. Tech companies listed on Nasdaq Composite and public businesses with over $10 billion market capitalizations were hit hard on their stock price.

China’s Five-Year-Plan for Transportation

China unveiled the latest five-year development plan on the transportation network, targeting to increase the total length of its high-speed railways by more than 1/3 from 2020 to 2025, bringing the countrywide network to 50,000 kilometers.
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