Equities, Oil Sink as New Covid Variant Discovered

The video discusses the current market concerns related to a new COVID variant, highlighting that COVID is not a top concern for clients planning for the next year. The discussion revolves around the comfort or complacency regarding vaccine efficacy and its impact on markets. The potential challenges posed by the new variant to vaccine efficacy are considered, with ongoing information gathering to determine the market's response. The video emphasizes the importance of understanding whether the variant causes a delay or a fundamental derailment of the economic restart, and how this affects risk management strategies.

What does the speaker suggest about the potential impact of a new variant on vaccine efficacy?

In what way does the speaker indicate that the current market situation could change?