The gap between the vaccine haves and have-not nations is set to widen after Joe Biden doubled the U.S. order of Johnson & Johnson’s single-shot treatment. The U.S. president faces a tough balancing act of meeting domestic needs and sharing with more needy allies. For now Biden said he needs to put Americans first while acknowledging that no one is safe until everyone is. Moderna Inc. has said its U.S. production is entirely for domestic use. Pfizer Inc. and J&J have declined to say whether they’ve exported any U.S.-produced doses or plan to. Meanwhile, Europe's slow vaccine take-up is causing investor alarm and outflows.
American Airlines has sealed the first portion of its industry-record $10bn debt deal that highlights the extent to which investors are searching for income even in sectors badly hit by the pandemic. The Texas-based airline issued $6.5bn worth of junk bonds on Wednesday as part of a package that also includes $3.5bn in loans. The $10bn fundraising marks the biggest debt deal ever by an airline, beating Delta's $9bn bond and loan sale in September.
With the House and Senate both approving the $1.9 trillion coronavirus relief bill, the only thing separating Americans from a $1,400 stimulus checkis a signature from President Joe Biden. The American Rescue Plan Act is expected to be signed by President Biden on Friday, and stimulus payments could start being sent out within days of him signing. That means Americans could start seeing the money as early as next week.