Stocks of COVID-19 vaccine developers are trending lower after U.S. Trade Representative Katherine Tai announced support for a waiver of intellectual property protections.  A number of large pharma companies, including vaccine developers Pfizer, Johnson & Johnson, and AstraZeneca say waiving IP rights wouldn't solve supply problems in the short term because contract producers lack familiarity with the new technology behind the shots.

Risks of rising prices are intensifying across the economy as a growing number of companies warn that supply shortages and logjams will compel them to raise prices. In fact, tight inventories have seen prices surge for raw materials, ranging from semiconductors and steel to lumber and cotton.  As commodities and materials become more expensive, the bigger question at the table is whether faster inflation sticks around. Putting it in perspective, a sheet of 3/4" plywood at Home Depot is now selling for around $60 (depends on location), up from about $30 before the pandemic - that's a 100% increase. Investors and policymakers alike are hoping that the price hikes prove transitory.

The U.S. employment picture improved sharply last week, with first-time claims for unemployment insurance hitting a fresh pandemic-era low.Initial claims totaled 498,000 for the week ended March 1, against the Dow Jones estimate of 527,000. That was down from the previous week’s total of 590,000, which saw a substantial upward revision from the initially reported 553,000.