- In the DM world, the US recorded a 2% increase in cases. At 51,817 it is the largest daily jump since the start of the pandemics. 22 states have case rates higher than 5% including Arizona (24%), Florida (16%), and Alabama (15%). California, Nebraska, Missouri, Oklahoma, and Washington with values between 5% and 6%.
- Texas is currently making big efforts to extend its ICU capacity with patients now surpassing normal capacity. Coronavirus patients account for 36% of all ICU beds.
- US Health Department bought nearly all supplies of remdesivir, an anti-viral medication, for the next three months. Tests suggests it cuts recovery times but is not yet clear if it improves survival rates.
- The US Senate votes to extend PPP business-bailout scheme until August 8. It still needs to pass through the House of Representatives.
- Meanwhile, there are concerns on how the upcoming 4th of July weekend could bring new spikes across the country.
- In the UK, 832 new cases were recorded (0.3% daily gain). Bradford, Barnsley and Rochdale are currently reporting high levels of infections in addition to the ongoing Leicester spike. The government confirmed the September back-to-school plans with limits on attendance lifted and schools expected to deliver “full curriculum” and remote learning.
- Japan saw daily cases up 0.7%. Tokyo reported 107 new cases, the highest for two months.
- France reported 1571 new cases, or 0.8%. However, in a statement, authorities linked the spike with “a catch-up of missing data”.
- Portugal’s daily cases dropped to 0.5% leaving it with the 5th highest per capita cases in Europe.
- In EM, India saw further sharp increases in cases and deaths at 3.3% and 2.5%. Recent floods and a reluctance over testing are hampering efforts to contain the spread of the virus.
- Mexico also saw big increases in both cases and deaths at 2.5% and 2.7% despite one state criminalizing risky COVID behaviour.
- Nigeria reported a daily gain of 3.1% and 2.2% on cases and deaths. The government announced resumption of domestic flights from July 8.
- A full list of countries that have reopened or are reopening for tourists can be found here.
- For a visual representation of daily changes, we also feature our quadrant charts too.
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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