A tour guide wearing a face shield speaks to a group outside Bath Abbey in the UK, on July 5. The Delta variant is spreading, even in countries with high vaccination rates like Britain. Photo: Bloomberg A tour guide wearing a face shield speaks to a group outside Bath Abbey in the UK, on July 5. The Delta variant is spreading, even in countries with high vaccination rates like Britain. Photo: Bloomberg
A tour guide wearing a face shield speaks to a group outside Bath Abbey in the UK, on July 5. The Delta variant is spreading, even in countries with high vaccination rates like Britain. Photo: Bloomberg
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Why market fears over the Delta variant are probably overblown

  • Over the past 18 months, the pandemic has been more of an irritant than a major headwind for markets
  • If markets were not unduly concerned when death rates in the developed world were high, Delta outbreaks are unlikely to be the catalyst for a sharp sell-off

Nicholas Spiro
Nicholas Spiro

Updated: 3:30am, 23 Jul, 2021

Why you can trust SCMP
A tour guide wearing a face shield speaks to a group outside Bath Abbey in the UK, on July 5. The Delta variant is spreading, even in countries with high vaccination rates like Britain. Photo: Bloomberg A tour guide wearing a face shield speaks to a group outside Bath Abbey in the UK, on July 5. The Delta variant is spreading, even in countries with high vaccination rates like Britain. Photo: Bloomberg
A tour guide wearing a face shield speaks to a group outside Bath Abbey in the UK, on July 5. The Delta variant is spreading, even in countries with high vaccination rates like Britain. Photo: Bloomberg
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Nicholas Spiro

Nicholas Spiro

Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.