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Joe Biden’s team fears surge of virus imperils pledge to curb the pandemic.

Joe Biden is outlining a plan to mount: 

  • ”A decisive public health response that ensures the wide availability of free testing; the elimination of all cost barriers to preventive care and treatment for COVID-19; the development of a vaccine; and the full deployment and operation of necessary supplies, personnel, and facilities.
  • A decisive economic response that starts with emergency paid leave for all those affected by the outbreak and gives all necessary help to workers, families, and small businesses that are hit hard by this crisis. Make no mistake: this will require an immediate set of ambitious and progressive economic measures and further decisive action to address the larger macro-economic shock from this outbreak.”

Market implications

There could be more dollar demand yet on the safe-haven flows if the optimism of Biden’s response dries up.