FDA Policy Discourse Is Everywhere - Which Means This One Is Marked Fade
The Opportunity
ED-003 is a broad FDA policy/regulatory activity cluster with Tier-1 presence. The pipeline explicitly labels it as spreading and decaying, and it assigns FADE - the thesis is that the informational edge has already been arbitraged, leaving only second-order interpretation as potential value. Action is AVOID because the signal is not presented here as a discrete, tradable policy artefact with a mapped instrument and fresh propagation gap.
The Timing
Timing is defined by propagation: when a policy narrative reaches Bloomberg/Reuters/FT/AP-style distribution, the window for "you know it first" closes. With high crosswind risk, trying to express broad FDA discourse through proxies without a new, binding document can lead to chop-driven losses. The only thing that would change this is a new primary FDA or Federal Register artefact with enforceable language and a clear affected issuer set.
The Evidence
The upstream decay rationale explicitly cites Tier-1 pickup as the driver. No hydrated evidence URLs were provided for ED-003 in the 7A payload, and no proxy instruments are included at this stage, which is why the report keeps this as FADE/AVOID rather than pretending it is a tradable edge.