Succinct Summary: Pfizer announced that its vaccine is 90% effective and that gave a boost to market confidence. The vaccine could be great news for the industry and great news for society. Pfizer says that it will have over 1B doses ready next year. The vaccine could lead to some reflationary outcomes. Editor's Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading, click here to donate (Our suggested donation: $10 per month). Help us keep The Transcript going.