Argonaut's Norris: Government has become 'prisoners of its own propaganda'

Risk of more lockdowns which could impact markets

The UK Government has become “prisoners of its own propaganda,” according to Argonaut’s Barry Norris, who warned the country could see the re-introduction of lockdowns and restrictions come winter, which would hamper the recovery of many industries.

The manager, who runs the FP Argonaut Absolute Return, European Alpha and European Income Opportunities funds, said following the initial reports of 90% Covid vaccine efficacy in November 2020, "financial markets generally assumed that it was only a matter of time before mass inoculation would eradicate Covid, allowing normality to resume". However, now he is not that confident.  A recent study from Oxford University showed vaccine efficacy falling since the more infectious delta strain became dominant in the UK. But scientists and experts have warned against drawing "dramatic conc...