E Market Briefing For Monday, April 19

Covid itself is already igniting a so-called 4th surge; while media speculates if it's coming. Yes it's selective in certain areas, and countries, but it's there and they say half the domestic cases are from variants. Covid fatigue sure set in.

Vaccines are being pushed; but are failing to deal adequately with the variants popping-up globally. The CEO of Moderna was frequently on TV this week, in a sense acknowledging this by talking of 'booster' shots, which really will more likely be a 'next generation' vaccine, which I think was logical to anticipate.

Medical experts are also sometimes speaking out about the harm vaccines do and that's not only the J&J clot issue (though it's most significant and as most often affects the brain, really might be taken off-market... is money involved?). I suspect Governments don't want to panic people (understandable); as word is spreading that the vaccine path is not the only answer (even if eventually it is an annual shot as Moderna suggests). I have contended all along that we'll need 'pills', 'nasal spray', 'injectable lower-dose monoclonal antibodies', and a faster affordable testing and tracking regimen to get a real handle on Covid. I realize Sorrento's innovative Covid solutions could play roles; but sluggish or absent reports that should be available (Brazil, Philadelphia etc.) are troubling at the same time as they keep expanding their deals and probably find current depressed prices for shares are setting-up the next upside romp (with news).

In sum: We suspect politicians will continues trying to ram as much as they're able to in terms of fiscal stimulus; even if later this Summer (if problems arise related to Covid) they may blame significant un-vaccinated citizens. It's also a reason we desperately need 'treatments' not just vaccines, to combat Covid.

Speaking of funding; the Fed's framework is untested longer-term so remains a problem down the road. Investors are not getting compensated for locking a large portion of monies in Treasuries; so they seek out dividend stocks (that's part of the appeal of something as basic as AT&T yielding around 7%). 

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