Russian military touts Covid-19 vaccine, though tests incomplete – Bloomberg

Bloomberg has reported that a COVID-19 vaccine developed with the Russian Defense Ministry completed Phase 2 trials, leading First Deputy Defense Minister Ruslan Tsalikov to say the first domestic inoculation is ready for use, the article reads.

Lead paragraphs

A second group of volunteers ended Phase 2 trials Monday, with everyone developing immunity from the coronavirus and feeling fine, Tsalikov said in an interview with Argumenty i Fakty newspaper published Tuesday. He didn’t say when Phase 3 large-scale trials would take place or when production of the vaccine may begin.

The Defense Ministry did not immediately respond to a request for comment. Tests of the vaccine are continuing, the Interfax news service reported, citing the Health Ministry in response to the statement.

The race for a vaccine

Science has never moved this fast to develop a vaccine.

This latest addition in updates goes to the list of vaccines from the UK, US and China are sprinting ahead in a global race that involves at least 197 vaccine candidates.

AXIOS reported that the first two candidates to reach phase three trials — one from the University of Oxford and AstraZeneca, the other from China — both appear safe and produce immune responses, according to preliminary results published in The Lancet.

A vaccine from Moderna, the U  biotech firm, is heading into phase three trials after similarly encouraging initial results.

There are at least 16 other vaccines currently in clinical trials in Australia, France, Germany, India, South Korea, the UK, the US and China, which is experimenting with a variety of vaccine types and has five candidates already in trials.

Market implications

Bulls will cheer the continued optimism which is seeing global equities extend their recovery highs on Tuesday, At the ti of writing, the S&P 500 has recorded a fresh 3277.30 high with sights set on the record highs of 3393 set at the start of the year.

For FX, there are pieces to this puzzle which are weighing on the greenback, namely with the euro's rocket ship taking off earlier today.