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by Tom Lake
Today's Major COVID-19 Headlines And Latest Data
- Hong Kong's Chief Executive Carrie Lam has warned that the city's hospital system could face "collapse" following a spike in COVID-19 cases. Lam stated on July 29 that Hong Kong was "on the verge of a large-scale community outbreak". The scale of the outbreak – around 100 new cases per day – remains well below that of states in Asia or Europe, but given Hong Kong's extremely high population density, any spike in community transmission could spread rapidly if not contained.
- The US recorded 1,244 fatalities from COVID-19 on July 28, the highest daily total since June 25. Over half of these (637) occurred in Texas, which has recorded over 1,600 fatalities from the virus in the past week. It should be noted that the spike is largely due to a change to the state's methodology on recording COVID-19 deaths.
- The World Health Organization (WHO)'s Europe regional director, Dr Hans Kluge, has stated that the spike in infections recorded across several European countries has primarily been driven by new cases among young people. Kluge stated in a BBC interview that "We're receiving reports from several health authorities of a higher proportion of new infections among young people. […] the call is loud enough to rethink how to better involve young people."
- Global increase in cases (daily) – Yesterday: 1.2%. Seven-day average: 1.6%
- Global increase in fatalities (daily) – Yesterday: 0.8%. Seven-day average: 1.0%
MNI POLICY: EZ Banks Well-Placed To Ride Out Crisis – Enria - Euro area banks should be able to withstand even the most severe economic downturn resulting from the Covid-19 pandemic currently envisaged by the European Central Bank, a report published Tuesday showed, though banking supervision head Andrea Enria stressed there is "no room for complacency." On MNI Policy Main Wire and email now - for more details please contact sales@marketnews.com
Chart 1. COVID-19 Cases and Fatalities, Nominal and % Chg Day-to-Day (5dma)
Source: JHU, MNI. As of 0600BST July 29. N.b. Each dot represents a single day's figures, data for past month
Full article PDF attached below:
MNI POLITICAL RISK ANALYSIS – Global COVID-19 Tracker – Jul 29.pdf
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.