Tariff Risks Mitigated for Big Pharma:3-Minute MLIV

Group 1: Pharmaceutical Industry - Pharmaceutical stocks are expected to face pressure due to recent tariff announcements, but European equities are showing resilience with futures up across the board [1] - The impact of tariffs may not be as severe as initially perceived, especially for pharmaceutical manufacturers with US manufacturing facilities, which are exempt from tariffs [2] - Companies like AstraZeneca have already established significant manufacturing bases in the US and have announced further expansion plans, positioning themselves favorably [3] Group 2: Gold Market - Gold is nearing its sixth consecutive weekly gain, having risen 40% this year, indicating strong demand despite signs of slowing momentum [5] - The recent tariff announcement highlights the fundamental uncertainty that continues to drive gold's appeal, with ongoing central bank purchases [7] - Better-than-expected GDP data from the US may negatively impact gold, but long-term factors supporting gold as a haven asset remain intact [6] Group 3: Bond Market - The bond market is under scrutiny, particularly in light of calls for increased government borrowing, which could create tension among traders [8] - Anticipation surrounds upcoming speeches, particularly from Reeves, which may influence market sentiment regarding tax policies and spending [9]