The race for a COVID-19 vaccine is in high gear and as more companies leap into the effort, the rally in currencies and equities reflect the market’s hope for a medical solution to the worst economic and social crisis in modern history. It decimated the economy and claimed the lives of more than 350,000 people but with curves peaking and countries reopening, many investors hope that the worst is behind us. The risk of a second wave is serious but it may be some time before that becomes a major concern. Investor sentiment became so depressed at the onset of the virus that we’re seeing fierce rallies on good news. ... (full story)