USD Sinks as Rise in Virus Cases Spook Traders

Pharmaceutical companies are making meaningful progress towards developing a successful vaccine but according to the markets, its just not fast enough. If we are lucky, a vaccine will be approved before the end of this year but broad dissemination won’t happen until 2021. In the meantime new virus cases are rising at alarmingly rapid rates across the globe, causing panic for investors worried about a double dip recession. Stocks sold off for the second day in a row as 10 year Treasury yields dropped 8%. The US dollar sold off against euro, the Japanese Yen, and Swiss Franc. Europe is headed for contraction in the … (full story)

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