J.P. Morgan: US infections are on a concerning trajectory

J.P. Morgan: US infections are on a concerning trajectory

United States Coronacrisis
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There has been a reacceleration of new cases of COVID-19 in some US states

California, Texas, Florida and Arizona - which make up 30% of the US population - have all seen a renewed spike in the past week. This has the potential to put pressure on health systems and slow the economic recovery. Google's mobility data show that these four states are now currently among the least active despite a reduction in lockdown measures, highlighting that corporates and consumers are themselves cautious of getting back to normal. The news is better in New York which may reflect the implementation of a longer and more stringent lockdown. Equity markets have been buoyed in recent weeks by falling infection rates, particularly in Europe, but the continued increase in cases in the US serves as a reminder that investors should focus on strategies that will protect portfolios from bouts of market volatility.

Daily new cases, 7-day moving average

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