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COVID-19 UPDATE: Moderna vaccine update = binary outcome reminder. July 15th is "Tax Day" so selling is largely behind us.

Please join Brian Rauscher, Head of Global Portfolio Strategy and Asset Allocation at FS Insight, TODAY, July 15th at 2:00 pm Eastern Time for a Webinar "Climbing the COVID Wall of Worry – Positioning for 2H20" with Q&A. Register here to attend

After the close, Moderna announced that its vaccine candidate produced significant antibodies in all patients tested (n=45), a major positive development.  And more importantly, a reminder that in many ways, a COVID-19 cure/vaccine is a binary event for markets, and there are many "shots on goal" on the healthcare side and only one needs to be successful.  

Source: Bloomberg

In case you are interested in reading the primary data, tireless Ken has included this link below., July 15th is the "Tax Day" and we believe much of the sloppiness seen in markets stems from this extended deadline.  The combination of Moderna + July 15th "Tax Day" potentially marks a turning point for markets.  And as we highlighted on Monday, there are piles of cash seen in HF, macro funds, mutual funds and individual investors.&n...

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