Vaccines & Travel Bubbles | Air NZ - Back to Neutral Global markets were mixed again overnight (S&P 500 index -0.4%) as technology and small cap stocks outperformed. Distribution of Pfizer's COVID-19 vaccine has begun in the US, but New York's mayor warned of heightened restrictions due to rising case numbers in the city, while restrictions were stepped up in parts of the UK amid reports of the spread of a new disease variant. UK health minister Hancock announced that London would move to a Level-3 lockdown from midnight Tuesday amidst an exponential rise in cases in the area.  Troublingly, Hancock said a “new variant” of Covid had been identified, adding that the WHO had been informed.  Hancock claimed it was “highly unlikely” a vaccine would not be effective against the new variant, but the news is still a fresh reminder that the battle against Covid is not over. On a more positive note, there appeared to be modest steps forward overnight for US stimulus and a post-Brexit trade deal betwe...