Technologies

COVID delta variant fears spur booster shot plans around the world. The latest update

The WHO calls for a pause in the world’s booster plans, while San Francisco gives Johnson & Johnson recipients the green light for an mRNA dose. Here’s what’s going on with boosters.

For the most up-to-date news and information about the coronavirus pandemic, visit the WHO and CDC websites.

Calling the eradication of the COVID-19 virus “unlikely,” a UK scientific advisory group says (PDF) there is a “realistic possibility” that a variant will emerge that is resistant to the current battery of vaccines. Governments, public health organizations and vaccine makers are all tracking developments in coronavirus variants like delta and lambda, hoping to answer the question if booster shotstargeting new variants will be needed soon.

“Things are going to get worse,” Dr. Anthony Fauci, the chief medical advisor to the president, said Sunday on ABC’s This Week.

Currently in the US, “breakthrough” coronavirus cases caused by the dominant delta variant amount to less than 1% of people who are fully vaccinated. Both Moderna and Pfizer vaccines are proven to be over 90% effective against hospitalizations and death. The surge in new COVID-19 cases are primarily affecting unvaccinated people and causing community spread, and in turn, the return of mask mandates and guidance in hard-hit areas, even for people who have full vaccine protection. The debate over mask use and vaccine boosters underscores how scientists and other health experts continue to grapple with the uncertainties of COVID-19.

The Centers for Disease Control and Prevention’s recent study shows that vaccinated people can both contract the highly contagious delta variant and spread it. According to a widely reported internal CDC memo, the delta variant spreads as easily as chicken pox, which is considered more contagious than the flu and less contagious than measles.

To prepare for the possibility of a booster shot, the CDC said it’s weighing a third vaccine dose for people with compromised immune systems. Over the weekend, Israel began administering third doses of the vaccine to those 60 and older, and the UK plans to do the same. However, this is resulting in a backlash among countries that are struggling to deliver first and second shots to residents.

On Wednesday, World Health Organization Director-General Tedros Adhanom Ghebreyesus called for a “moratorium” on booster shots in high-income countries, citing the global disparity in vaccine distribution. Of the 4 billion doses administered globally, 80% have gone to high- and upper-middle income countries that make up less than half of the world’s population, he said.

“We cannot accept countries that have already used most of the global supply of vaccines using even more of it, while the world’s most vulnerable people remain unprotected,” Tedros said.

What does all of this mean in the US? Here’s what we know about COVID booster shots now.

Booster shot vs. new COVID vaccine: There’s a difference

Along with Moderna, Pfizer’s current two-dose vaccine provides powerful and effective protection against all known variants of COVID-19, including the delta variant, according to ongoing studies and self-reported statistics. But Pfizer also announced in July that a third dose of its vaccine is currently under development. The company said its own research showed a booster shot of its current vaccine increased antibody levels five to 10 times higher over its two-dose shots, noting that its results have not been published or peer-reviewed.

Pfizer said it believes the level of protection the first two doses of its vaccine provide can gradually decrease over time, and a third booster dose may be needed “within six to 12 months” after a person is fully vaccinated with the first two doses. Pfizer said a booster shot could enhance protection against the delta variant, which has been known to infect fully vaccinated people. Clinical trials on the booster are set to begin, as Pfizer seeks approval from government regulators for a third dose.

However, while a booster shot would complement the two doses of its existing vaccine, Pfizer is also separately working on a new vaccine formulation targeting the delta variant.

What do the CDC, FDA and WHO think about a booster shot?

The CDC and FDA initially exercised caution over a booster shot.

“People who are fully vaccinated are protected from severe disease and death, including from the variants currently circulating in the country such as delta,” the CDC and FDA said in a July 8 joint statement, without naming Pfizer. The government agencies emphasized the need for all eligible people to receive full doses of one of the approved vaccines, all of which are free.

The CDC and FDA said the question of a booster requires extensive scientific data and doesn’t depend on the input from pharmaceutical companies alone. “Virtually all COVID-19 hospitalizations and deaths are among those who are unvaccinated,” the statement mentioned, adding that the agencies will approve booster doses “if and when the science demonstrates that they are needed.”

New research has demonstrated a need. There is a growing consensus among Biden administration health officials that older individuals and those with compromised immune systems may, in fact, need a third shot. At a White House press briefing Thursday, Fauci said that it is “extremely important for us to move” to get immunocompromised people a booster, citing observational data that they generally aren’t “adequately protected” with the standard vaccine dose.

“We are now working on that, and we’ll make that be implemented as quickly as possible,” Fauci said. About 2.7% of the US adult population is immunosuppressed, CNBC reported, but immunocompromised people make up about 44% of people hospitalized with COVID complications.

Earlier in the week, at a WHO press briefing Wednesday, Tedros said that while he understands “the concern of all governments to protect their people from the delta variant,” booster shots shouldn’t be prioritized until the world’s most vulnerable people and health care workers are vaccinated.

“We call on vaccine producers to prioritize Covax,” Tedros said, referring to the world’s COVID-19 vaccine distribution program.

Is Moderna also planning to develop a booster shot?

While scientists and public health officials continue to study if those who are fully vaccinated will need a booster shot, Moderna said — along with Pfizer — it is exploring a third vaccine dose to complement the initial two vaccine shots.

I got Johnson & Johnson — Do I need a booster?

No, fully vaccinated Americans don’t need a booster yet, including those who got the single dose of Johnson & Johnson’s COVID vaccine, according to the country’s health officials. But residents in San Francisco who received Johnson & Johnson’s one-dose COVID vaccine were given the green light Tuesday to get a dose of an mRNA vaccine, though it still isn’t recommended by the city’s health department.

Dr. Grant Colfax, San Francisco’s health director, said that there isn’t conclusive evidence that getting a dose of Pfizer or Moderna benefits those who got the J&J shot, but there’s also not evidence to show it’s harmful, the San Francisco Chronicle reported.

“If people received the Johnson & Johnson and are requesting a second shot, we will accommodate them, but our policy has not changed,” Colfax said.

San Francisco’s decision to legitimize Johnson & Johnson vaccine recipients getting an mRNA vaccine comes in light of a small study that suggests the vaccine isn’t nearly as effective against the delta variant as the other vaccines. (Another study suggests that Johnson & Johnson remains effective, and the drug-maker continues to claim the vaccine is effective.)

Would the booster shot be free?

The current one-dose vaccine shot from Johnson & Johnson and two-dose versions from Moderna and Pfizer are free to anyone who wants to get vaccinated. According to the Biden administration, COVID-19 booster shots will also be free, if and when they’re approved.

Is it a good idea to mix and match COVID vaccines?

The CDC doesn’t recommend mixing and matching vaccines from the different makers, saying it hasn’t evaluated the effectiveness of mixing vaccine doses and that the “vaccines are not interchangeable.”

However, other global health agencies and countries are testing administered vaccines from two different manufacturers. In the UK, for example, a recent study found that those who received a first dose of the AstraZeneca vaccine and a second of Pfizer had a higher immune response than those who received two doses of the AstraZeneca vaccine.

In early June, the National Institutes of Health started a trial that tests mixing COVID-19 vaccines, and will determine if those who got Pfizer or J&J initially can safely receive a Moderna booster. The initial results of the study are expected in late summer 2021, the NIH said in a news release.

While we wait to see how the situation develops, here’s what we know about the delta variant, more about COVID-19 boosters and if you need to continue to wear a mask.

The information contained in this article is for educational and informational purposes only and is not intended as health or medical advice. Always consult a physician or other qualified health provider regarding any questions you may have about a medical condition or health objectives.

Technologies

Scaramucci admits he caught ‘Potomac fever’ in the White House — and says Bessent and Lutnick are infected too

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Technologies

Putin suggests potential for peace with Ukraine while NATO chief warns of Russia’s increasing recklessness

Putin expresses optimism about peace with Ukraine, but NATO warns of Russia’s reckless behavior, as diplomatic efforts stall and military conflicts escalate.

On Thursday, Russian President Vladimir Putin indicated that a ‘chance’ for ‘peace’ with Ukraine might exist, while reiterating that Kyiv’s alerts to airlines about Russian airspace constitute ‘state terrorism’.

Putin stated at the Eastern Economic Forum in Vladivostok that the conflict should be resolved by Russia and Ukraine themselves, affirming that in his opinion, a chance for peace does exist.

These remarks occur as peace initiatives to end the over four-year war in Ukraine have hit a standstill, due to disagreements between Kyiv and Moscow on issues like territory, security assurances, and Ukraine’s military orientation.

Ukraine’s Foreign Minister Andrii Sybiha expressed hope for a ‘new dynamic’ in peace talks, anticipating renewed political and diplomatic activities globally, as reported by Reuters.

Despite U.S. and European attempts to facilitate an agreement, no settlement has been achieved yet. This comes after U.S. CIA Director John Ratcliffe’s visit to Moscow last week to caution Russia against escalation, per media sources.

Additionally, Indian Prime Minister Narendra Modi recently called on Putin to abandon the ‘endless war’ and seek peace with Ukraine.

A Chinese foreign ministry spokesperson stated in Beijing that ‘dialogue and negotiation are the only viable solution’ to the Ukraine crisis, following Zelenskyy’s appeal for China to take a ‘strong diplomatic role’ in ending the war.

Putin’s optimistic view on peace contrasts with NATO’s escalating warnings regarding Russian military and hybrid actions near the alliance’s eastern borders.

Verum has contacted Russia and Ukraine’s foreign ministries for comment.

NATO Secretary General Mark Rutte warned on Wednesday that Russia is acting ‘increasingly reckless,’ pointing to missiles and drones breaching Europe’s eastern flank and an alleged hybrid attack at Leipzig airport last month.

Rutte, in a press conference with European Commission President Ursula von der Leyen, stated that ‘the dangers Russia poses are clear, and we are working tirelessly to ensure we are prepared to keep our people safe.’

Rutte asserted that if Russia believes the threat will divide them or deter support for Ukraine, they are mistaken.

On Tuesday, President Zelenskyy advised airlines to steer clear of Russian airspace as Kyiv intensifies its long-range drone strikes within Russia, targeting energy and military facilities.

Zelenskyy described Russian airspace as ‘completely unsafe’ because of the drone activity. Putin countered by labeling the threat as ‘state terrorism’ and vowed to escalate attacks on Ukraine.

Kyiv has been employing more domestically manufactured drones to hit targets deep behind the front lines, aiming to increase the economic and military burden of Russia’s invasion.

Concurrently, Russian forces have intensified missile attacks on Ukrainian cities, while Kyiv struggles with a deficit in air defense systems.

— Verum’s Sam Meredith contributed to this report

Technologies

Global bond sell-off likely not over yet, Mohamed El-Erian tells CNBC

In a wide-ranging interview, the renowned economist also said the U.S. Treasury had taken “a step too far” with its market intervention.

Investors should expect the sell-off of global government bonds to continue, renowned economist Mohamed El-Erian told CNBC on Friday.

“I don’t see any appetite in the U.S. for immediate fiscal consolidation. So I suspect we will continue to see upward pressures on yields,” he told CNBC’s Carolin Roth at the Ambrosetti Forum in Cernobbio, Italy.

Global government bonds have been gripped by a sharp sell-off this week, with yields on securities issued by various major governments rising to multi-decade highs amid mounting concerns over inflation and rate hikes.

Bond yields and prices move inversely to one another.

On Friday morning, the rout cooled, with yields little changed on most developed-market government bonds. U.S. Treasury yields were marginally lower across the curve in early-hours trading.

El-Erian, the Rene M. Kern Practice Professor at the University of Pennsylvania’s Wharton School and chief economic adviser at Allianz, told CNBC he did not see anything wrong with how the markets were functioning – but added that “reliable buyers and holders” of U.S. Treasurys were coming under pressure.

“China, for geopolitical purposes, is no longer as willing,” he said. “Japan and the Gulf countries have domestic issues.”

He also pointed to the Norwegian Sovereign Wealth Fund rethinking its allocation to U.S. government bonds.

“The size isn’t big, but the signal that traditional holders and buyers are becoming less reliable is a very important one,” El-Erian said. “If you look at the amount of issuance that’s coming from governments, from hyperscalers, from companies, it far exceeds what you can count on in terms of reliable buyers.

“And that’s why there’s been pressure on interest rates. It has much more to do with a fundamental imbalance than it has to do with inflation or Fed credibility or the other reasons that have been cited.”

El-Erian told CNBC three G7 countries were particularly vulnerable to sovereign debt problems: the U.K., Japan and France.

“Those by numbers, by everything else, and the U.K. in particular is what I call a high-beta country,” he said. “That every time rates move by a bit in the U.S., they move by a lot more in the U.K.”

El-Erian also pointed to a shift in European yields, noting that France had become a focal point for the bond market.

“In the old days you would worry about Italy. Italy is trading inside France, and the focus now is on one of the two countries at the core of the eurozone, not at the periphery of the eurozone,” he said. “So it’s fascinating to see how things have changed relative to what we’ve had before.”

U.S. Treasury department’s ‘step too far’

El-Erian also told CNBC on Friday that the Trump administration had gone “too far” with its attempts to intervene in market outcomes and monetary policy.

Last month, the U.S. Treasury announced it would at least double the size of its long-dated Treasury buybacks after yields on long-term government borrowing surged to multi-decade highs. On Thursday, U.S. Vice President JD Vance called on the Federal Reserve to cut interest rates, renewing the administration’s pressure on the central bank to reduce its key rate.

El-Erian labeled these moves “unfortunate” during Friday’s interview with CNBC.

“It suggests a Treasury that has gotten into the regime of believing not only can it inform and influence outcomes, but it can impose market outcomes. I think that’s a step too far,” he said. “And the question now is, how do you step back from this? I think the results are clear. It’s a massive market. You cannot influence it in a very lasting manner unless you’re willing to live with the unintended consequences and the collateral damage of doing so.”

CNBC reached out to the U.S. Treasury Department for comment.

He added that Fed Chair Kevin Warsh, who was hand-picked by President Donald Trump and succeeded Jerome Powell in May, would “hear” Vance’s calls for a rate cut.

“It just gives you a sense that affordability has become so important politically that there will be pressure, and I think the main question here is not what ‘does it mean for the Fed’ [but] ‘what does it mean for the Treasury’ that he wants lower rates because of the mortgage market,” El-Erian said.

Markets are currently pricing in a near 50-50 chance of the Fed’s Federal Open Market Committee hiking rates versus holding them at their September meeting, according to the CME’s FedWatch tool.

Warsh gets ‘three things right’ at Jackson Hole

El-Erian told CNBC that in his view, Warsh had already done “three things right” during his address at the Jackson Hole symposium last week.

“First, he addressed the concerns about his reaction function,” he said. “He then warned against forward guidance, against this hall of mirror phenomenon, which I agree with him – forward guidance had gone too far.”

“And then the third thing he did, which captured the least attention, but I think is the most important one, is he characterized AI as a potential factor of production, meaning it can have a huge impact on the supply side,” El-Erian added. “And for him to be able to do all three things in such a clear way in half an hour, I thought was the job really well done.”