What you're not hearing about what you just think you know about the Delta variant

Bond yields and equity markets are signaling risk off as fear of the Delta variant proliferates, with stories circulating on Wall Street that rising cases in some highly-vaccinated countries mean the vaccines are now inoperative. Delta-prevalence is measured only approximately, but it suggests that 80% of US cases are Delta. Across the 19 US states tracked by the CDC, and 54 nations, there is evidence only that Delta is slightly more contagious. There is evidence that it is slightly less lethal, a pattern often followed by maturing pandemics. In the US and globally, there is no evidence that it is vaccine-resistant. In the US, vaccinations are associated with fewer new cases, not more; globally, there is no relationship at all.