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Study of Gilead’s remdesivir shows improvement in moderate cases

  
  Analysis
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Results of the latest study

Gilead released its latest study results of patients with moderate COVID-19 and reported that patients on a 5-day tready were “65 percent more likely to have clinical improvement at Day 11 compared with those in the standard of care group.”
The company was upbeat about the results.
“These study results offer additional encouraging data for remdesivir, showing that if we can intervene earlier in the disease process with a 5-day treatment course, we can significantly improve clinical outcomes for these patients.”
Here is the data. It’s not a miracle cure but I’d certainly rather have it if I had the virus.
Results of the latest study
The issue is that it needs to be administered in a hospital and is expensive. That makes it unfeasible in some parts of the world.
Shares of the company are up 10% in the pre-market and the report briefly boosted stock market futures.

Trump warns he will obliterate Turkey if they go offside

  
  Analysis
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Trump talks about his “great and unmatched wisdom”

Another tweet on Turkey:
As I have stated strongly before, and just to reiterate, if Turkey does anything that I, in my great and unmatched wisdom, consider to be off limits, I will totally destroy and obliterate the Economy of Turkey (I’ve done before!). They must, with Europe and others, watch over…the captured ISIS fighters and families. The U.S. has done far more than anyone could have ever expected, including the capture of 100% of the ISIS Caliphate. It is time now for others in the region, some of great wealth, to protect their own territory. THE USA IS GREAT!
The Turkish lira is under pressure today on speculation they will launch offensives into Turkey.

Disappointment from the ECB ahead would be euro supportive

  
Analysis, Forex
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The headline is the in a nutshell view from Macquarie following the European Central Bank overnight.

  • The banks notes expectations building for more from the ECB
  • But the ECB have a limited range of policy options available
  • The bank also faces political headwinds to further aggressive action
And thus eventual action could be disappointing to markets.
For the euro ahead:
  • market is pricing around 18bps of policy rate cuts over the next 12 months
  • Eurozone bond market rally is an indication market is also expecting the ECB to restart QE
And thus is if the ECB fail to deliver on either of these, euro rates would go higher supporting the euro
The headline is the in a nutshell view from Macquarie following the European Central Bank overnight.Secret message?
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