Global COVID-19 Tracker – US Sees Record Number Of New Daily Cases
- By Bilal Hafeez and Stefan Posea
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• In the DM world, the US is making headlines with record new daily cases. Wednesday saw a 34,600 jump in new cases which translates, a 1.5% daily rise. New York, New Jersey, and Connecticut have asked individuals (including residents) arriving from states where cases are surging to self-isolate for 14-days. Thirty-three states, including Arizona, Oklahoma, South Carolina, and Washington recorded a higher seven-day new cases average compared to the past two weeks. California reported a record of 7,149 new cases on Wednesday and Governor Newsom has made face mask wearing compulsory in public places. In Arizona, hospitals are putting emergency plans in place as the latest predictions point to ‘surge capacity mode’ by July 4. Houston is in a similar position, with officials claiming medical infrastructure is overwhelmed.
Away from the US, Sweden saw a 2.4% increase on Wednesday. Parliament recently agreed to a commission probe into the government’s response to the Covid crisis with results being published early next year (before the general election). Significant increases were also seen in Portugal, which has imposed new restrictions and partial lockdowns. In Japan, Tokyo reported 55 new cases, its highest daily increase since May. In the UK, which saw only a 0.2% increase, leaked documents have raised concerns about the government’s ability to ease lockdown from July. On deaths, we mainly see increases in the US, Sweden, and Australia.
• In the EM world, we have Argentina leading today with a 5.6% increase. Authorities called on the public to help contain the virus or risk the return of strict lockdown. South Africa sees a 5.4% increase which translates into the highest daily number of cases at the same time when the country continues to ease lockdown. India recorded a 3.6% increase in what is a new daily record increase. India remains as the fourth worst hit nation after the US, Brazil, and Russia. On deaths, Latam economies dominate today. Most of them recorded increases of between 4% and 5%. Brazil, Chile, Ecuador, and Peru so far record the highest toll in terms of deaths per capita, at about 250 per million people. Daily increases were also significant in South Africa, Egypt, and India.
• Looking at which countries are at peak waves, we find the following:
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- In DM, the US and Sweden continue to be in the weakest positions as they top the new wave and the peak wave quadrants. Portugal and Australia are next in line. While France and Germany saw recent clusters, they remain in the declining wave quadrant, along with most other countries.
- In EM, Mexico, South Africa, Colombia, India, and Brazil are at the top of the peak wave quadrant. Israel is currently one the strongest new wave contenders while Czech Republic also inches towards that quadrant. Malaysia and Taiwan currently remain the best positioned countries in the declining wave, followed by Hungary, Singapore, and Thailand.
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.