Most things in life are not assessed by their absolute value but rather how they measure against expectations. A political leader’s fortunes on the election trail do not necessarily rise or fall simply because they won or lost the debate, but rather how they performed against expectations (see: Jack Layton).
Similarly, a stock’s performance on the TSX doesn’t rise or fall on earnings day because the company made or lost money, but because a company performs better or worse than analysts expected. It is this misalignment that causes movement in attitudes and behaviours.
When it comes to the rollout of COVID-19 vaccines in Canada, Prime Minister Justin Trudeau set the bar high. He has reasserted his pledge to vaccinate every Canadian who wants to be inoculated by the end of September, stating he remains “very confident” in his ability to get the job done.
Read more: Feds unveil accelerated rollout schedule following fresh coronavirus vaccine deals