US National Institute of Allergy and Infectious Diseases Director Anthony Fauci said on Tuesday that the Omicron Covid-19 variant was "almost certainly" not more severe than the delta variant, according to AFP. These remarks come after Fauci was quoted on CNN over the weekend as saying that it does not look like Omicron has a "great degree of severity". 

Market Reaction

US equities and other risk assets continue to surge as markets, in light of increasing evidence that this variant will not be as severe as delta, move to price out pessimism about the economic outlook.