Welcome to Thoughts in the Market.

I'm Andrew Sheets, Chief Cross-Asset Stragist for Morgan Stanley.

And I'm Matthew Harrison, Equity Research Analyst Covering Biotechnology.

And on this special edition of the podcast, we'll be talking about progress on COVID-19

vaccinations and the road to herd immunity.

It's Thursday, March 18th at 3pm in London, in 11am in New York.

So Matt, it's been a couple of weeks since we last spoke, and in that time we've seen

some significant developments, including the release of a vaccine from Johnson & Johnson.

Maybe catch us up to speed on the vaccine rollout, where we are in terms of shots, and where

we could be headed.

I think we're in a very good place here.

There are a couple developments.

The J&J vaccine obviously is only one shot instead of two.

And the timing of the doses that we're going to get from J&J is also in line with what

we're expecting.

I think the bigger story is that the rollout of the two other vaccines are also going

quite well.

And the timeline for when those doses are going to be delivered has been moved up about

a month earlier than when we last spoke.

So we will get 300 million doses from each of those companies by the end of May, which

would allow us to vaccinate broadly all of the adult population in the US.

Now, we've said that may take some more time beyond May, but from a supply standpoint,

...