COVID-19 UPDATE: USA cases steady at 20,874 (vs 1D ago). OH to open up 90% of the state by EOW (biggest yet). The 'sobering' of market expectations continue w/Fed's Powell and David Tepper

COVID-19 remains a global crisis and we realize that many people need to keep up with COVID-19 developments, particularly since we are moving into the more critical stage ("restart economy"), so feel free to share our commentary to anyone who has interest.We found NY state's essential worker serology study (>6,000 essential workers) very telling.  Essential workers are transit employees (NYC), NYC healthcare, NYPD, FDNY/EMT, DOCCS, and State Police (these 6 categories broken out). These workers are front-line, exposed constantly without the PPE precautions afforded hospital employees.  And surprisingly, the prevalence of COVID-19 antibodies for these 6, 6 of 6, is lower than the general population:- NYC transit          14.2%  vs  19.9% (NYC overall)- NYPD                  10.5%  vs  19.9%- NYC Healthcare  12.2%  vs  19.9%- FDNY/EMT          17.1%  vs  19.9%  (yup, even EMTs)One thing this argues, in our view, is that the return to the workplace may be safer than most appreciate.  Think about it.  The fact that the prevalence is lower, despite higher constant exposure (in the public entire workweek) and in high-ri...

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