Global COVID-19 Tracker: Sweden Scales Up Tests, Brazil Deaths Spike And Spain Extends Emergency
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In the DM world, apart from Sweden which recorded a 6% increase, no country saw big case increases. Sweden’s increase is likely the result of a scaling up in testing capacity recently put in place. Sweden also tops in deaths with a 2% increase, while others barely saw any increases. Even if its overall increases are currently low, Spain decided to extend its emergency until June 21.
In the EM world, we have India, Pakistan, South Africa, Argentina, Chile, and Brazil leading today with a 5% case increase. The Philippines, Egypt, Mexico, and Colombia follow next with 4%. Iran’s modest 2% increase translates into 3,574 new cases and represents the country’s highest daily count since the pandemic began. On deaths, Mexico leads today with a 10% increase, followed by Chile which has 7%. South Africa and Saudi Arabia recorded 5%. Overall, Brazil is now poised to overtake Italy as the third worst hit country in terms of deaths. Along with Mexico, it has also recorded its highest daily death toll since the beginning of the pandemic.
Looking at which countries are at peak waves, we find the following:
In DM, Sweden finds itself as a potential new waver following the recent scaling up of testing capacity. There are no peak wavers in today’s edition. In terms of post-peak countries, UK is currently the strongest candidate. Apart from Portugal, all other countries are inside the boundaries of the declining wave quadrant.
In EM, Egypt, Mexico, India, Pakistan, Argentina, and Brazil are all still at the peak of the pandemic while Iran, Philippines and Israel are signalling new waves. Poland is currently inching towards the post-peak quadrant, while most other countries are either in or inching towards the declining wave quadrant.
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.
(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)
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