Market Pulse
Biotech and pharmaceutical groups have struggled immensely over the past two months as unique issues affecting the industry have become more dominant. The general market skittishness over rate policy and tariffs have also contributed to the woes.
However, with the broader market tenor improving following a benign Fed policy, a period of US-China trade detente, an expectation of steady economic data, and earnings that are thus far mostly meeting expectations, it will be interesting to see how healthcare will perform, and specifically, biotechs. We believe if the broader market continues to rise, biotechs