- In the DM world, the US recorded a 1.8% increase in cases. It sets a new daily record of 45,850 new cases. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases (NIAID), warned that if southern and western states are not able to contain their spikes, the US could reach 100,000 cases a day. The rate of daily infections has doubled in the past month.
- On vaccines, Dr Fauci said there is “no guarantee” of an effective vaccine, but that he was “cautiously optimistic” one would be developed based on results from early trials.
- As of how states are reopening, the situation is the following:
- There are reversals in Florida, Texas, Arizona, and California
- There is a pause in the opening of Washington, Oregon, Idaho, Nevada, New Mexico, Arkansas, Louisiana, Alabama, North Carolina, Delaware, and Michigan.
- Reopening plans is complete in New Hampshire, Wisconsin, Iowa, South Dakota, Kansas, Missouri, Oklahoma, Mississippi, and Alaska. Every major sector of the economy has reopened, but with social distancing restrictions such as fewer customers and compulsory face masks.
- All other states are still reopening in stages.
- Sweden’s daily increase has significantly dropped since yesterday and is now only 1.2%.
- Australia, on the other hand, sees bigger increases and decided to place more than 300,000 people under lockdown. Restrictions will be enforced in Melbourne’s northern suburbs.
- In EM, South Africa leads today in both cases and deaths increases. The growth rates were 4.8% and 5.1%. Even though restaurants, casinos, and cinemas have been opened, international flights are not expected to return before next year.
- India, Indonesia, Nigeria, Saudi Arabia, and all Latam countries recorded big increases in both cases and deaths during the past day.
Bilal Hafeez is the CEO and Editor of Macro Hive. He spent over twenty years doing research at big banks – JPMorgan, Deutsche Bank, and Nomura, where he had various “Global Head” roles and did FX, rates and cross-markets research.
Stefan Posea is a Research Analyst at Macro Hive. His research interests lie in macro-financial interactions and monetary policy analysis. Stefan graduated with an MSc in Economics at Birkbeck, University of London and previously held roles in M&A and the Public Sector.
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