PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia said today that more progress with coronavirus treatment news will inject confidence into the markets.
"As we head into a new week, it would appear that U.S. treasury yields are moving lower,” Celia said. “That means treasury prices are going higher to start a new
week. That, of course, indicates that there is more money coming into U.S. treasuries, driving the yield down and prices for the bonds up. This indicates, of course, that there is less confidence in the economic growth, maybe from other countries, not only here in the U.S. I'm sure that a lot of this money is foreign money looking for safe haven, and there is no better safe haven than U.S. treasuries.
“Also, as we head into a new week and I suspect next week as well, there's going to be a lot of focus and attention being paid to monitoring some new and different coronavirus treatments,” Celia continued. “It looks like treatment progress is more in the news than anything about vaccines. Now, you know, for a very long time, I have said that treatment is critically important and it could be even more important than a vaccine. It may remove the fear and about being deathly ill from the virus. It's going to help them get back to work quicker and feel a little bit more confident about working alongside their colleagues, if something should happen where they might catch the virus.
There is treatment available that will help them. Now, key word here is ‘available.’ It's one thing to be working on treatments. It's one thing to be talking about coronavirus treatments and hearing about it in the news. It's a very different thing to actually have it available. We'll see what the week will bring in the midst of the Republican National Convention."