E One Year Anniversary Of The COVID-19 Bull Market

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Today stock markets celebrated the anniversary of the start of the COVID-19 bull market a year ago by falling across the board. Our dollar rose which is bad for tech stocks and the news was bad for the sector I'm heavily invested in, healthcare. The portfolios are full of red ink but there are some winners.

Israeli voters are for the 4th time voting about whether or not to keep Benjamin Netanyahu in office, despite charges against him of corruption he can avoid by staying on. Israeli shares are in negative focus since the left is not likely to leave Israeli companies with low taxes at home because of their prestige abroad. But Netanyahu always outwits the left. He busily promises tax cuts despite rising inflation in the Jewish State. We start with the drug sector today.

Drugs

*Congressperson Bernie Sanders is proposing medicine price controls, scaring the market. The most left-wing democrat only gets some ideas to be taken up by Biden. This is not one of them.

*Astra Zeneca won a sell rating today from Goldman Sachs over a new problem with its US trials for its inoculation against COVID-19. The US National Institute of Allergy and Infectious Diseases sought more data from the AZN US trials which yesterday seemed to show that its Oxford University jab was effective. The NIAID says that AZN only filed outdated dates leaving out failures to stop virus mutations. Given 48 hours to produce the missing data, AZN lost 3.8%.

*A tough line was also taken by the FDA against another global pharma company we own, Novo Nordisk. The regulator wants NVO data on a new manufacturing site for its manufacturing semaglutide for treating type 2 diabetes. This will be supplied during Q2 according to the Danish firm. It also lost because oral insulin from Oramed opened a second phase III trial and its shares rose 14%. It will challenge NVO's dominance of the market for diabetes drugs if it works.

*Teva, as the best known Israeli global company (if no longer the largest), tumbled 2.7% on fears of an

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