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The spread of the coronavirus disease (COVID-19) in New York

Take Five: A bull with underlying health conditions

Southern European bonds and the euro have rallied hard in the two months since France and Germany mooted a 750 billion-euro ($848 billion) post-COVID-19 recovery fund. On July 17-18, European leaders meet to hammer out details. But differences remain on whether the fund should be based on loans or grants; if the proposal stumbles, markets will take it badly.

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