Monthly Archives: August 2020




 

On Friday, the National Association of Realtors (NAR) will release the Existing Home Sales (EHS) for July. According to the Bloomberg consensus, EHS should increase by 14.4% MoM to 5.40M SAAR, which would be the highest level since February 2020.

→ EHS will largely beat expectations due to technical and fundamental factors:

 


 

1. Data construction implies that July will start reflecting post-reopening activity

Most of economists never looked at the construction of EHS data which explains a large part of miscalculation. According to the Census Bureau, “the majority of transactions are reported when the sales contract is closed. Most transactions usually involve a mortgage which takes 30-60 days to close. Therefore, an existing home sale (closing) most likely involves a sales contract that was signed a month or two prior.” In other words, most buyers placed their offers in June (and to a lesser extent in May), when the reopening phase gained traction. As a result, July existing home sales will start reflecting post-reopening activity.

 

2. Buyers benefited from favorable market conditions

Fundamentals improved with a sharp decline of mortgage rates. According to Freddie Mac, this week, the average for a 30-year fixed-rate loan remained below 3.00%, which is close to the lowest level on record.
 

The avg. 30-Yr FRM ticks up to 2.99% https://t.co/Cj2GH9Tofy

Chief Economist @TheSamKhater: “Purchase housing demand continues to accelerate, ultimately providing support to an economy that otherwise has stagnated." pic.twitter.com/jURPvVu8fP

— Freddie Mac (@FreddieMac) August 20, 2020

 

3. Recent announcements from corporates suggest that home-improvement activity is booming

Two companies specialized in home-improvement published their quarterly results earlier this week, which showed that sales grew at a strong rate compared to last year. I follow closely their statements given that, usually, home-improvement activity is closely correlated with existing home sales:
 
On Tuesday, Home Depot, the world’s largest home improvement retailer, reported sales of $38.1 billion for the second quarter of fiscal 2020, a 23.4 percent increase from the second quarter of fiscal 2019. Comparable sales for the second quarter of fiscal 2020 were positive 23.4 percent, and comparable sales in the U.S. were positive 25.0 percent. “These record results were driven by broad-based strength across our stores and geographies.

On Wednesday, Lowe’s Companies, the home improvement retailer, reported sales for the second quarter were $27.3 billion compared to $21.0 billion in the second quarter of 2019, and comparable sales increased 34.2 percent. Comparable sales for the U.S. home improvement business increased 35.1 percent for the second quarter.

 

4. Local/state reports confirm that sales rebounded on a YoY basis in July

Local/state figures suggest that national existing home sales (non-seasonally adjusted: NSA) are likely to rebound on a YoY basis in July. There is anecdotical evidence that many households chose to relocate due to coronavirus pandemic with some of them prefering suburbs. It’s also interesting to note that existing home sales in areas with beach resorts experienced strong gains from a year ago. As a matter of fact, according to information released by the Northeast Florida Association of Realtors, in July, there were 3,514 sales, a 15.8% increase from a year ago. Using my sample of local/state data and a seasonal adjustment factor higher than last year (less favorable), I expect exiting home sales to jump by more than 20% MoM (seasonally adjusted: SA) in July.

 

5. A strong increase in Existing Home Sales would be coherent with the recent bounce in Pending Home Sales

As the National Association of Realtors (NAR) noted, “The Pending Home Sales Index (PHS), a leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops. Because a home goes under contract a month or two before it is sold, the Pending Home Sales Index generally leads Existing-Home Sales by a month or two.” In this context, It would be coherent if EHS finally catch up with PHS as suggested by the chart below.

 

Americas

FOMC minutes:
1. Dovish, worried about slowdown, downside risks.
2. Forward guidance "at some point" not seen now.
3. Little interest in yield curve control.
4. Statement of goals and strategy, delayed from January, “in the near future.'' https://t.co/TJEiyG5nuF via @economics

— Steve Matthews (@SteveMatthews12) August 19, 2020

Key Takeaways From The FOMC Minutes: Market Spooked By Lack Of Fed Commitment To More QE, "Twist" Or Curve Control https://t.co/eZCjfiMco6

— zerohedge (@zerohedge) August 19, 2020

U.S.-#China #Trade Talks Delayed, Not Derailed – WSJ
*Negotiators plan to confer by video in the coming days over progress in fulfilling terms of the ‘#PhaseOne’ dealhttps://t.co/fUjFnGAlaj

— Christophe Barraud (@C_Barraud) August 19, 2020

Local Officials in #China Hid #Coronavirus Dangers From Beijing, U.S. Agencies Find – NYThttps://t.co/AvGRjsoe0U

— Christophe Barraud (@C_Barraud) August 19, 2020

U.S. Ends Pacts With #HongKong on Extradition, Shipping Tax – Bloomberghttps://t.co/GjqLedBgIn

— Christophe Barraud (@C_Barraud) August 20, 2020

The collapse of a Mexican bank is spurring concern about risks for the system just as the country sinks into its deepest recession in almost a century https://t.co/vc8vGsqObd

— Bloomberg Economics (@economics) August 19, 2020

Asia

Asia shares set to dip as Fed's gloom snuffs out Wall Street cheer https://t.co/FWLeL07wuG pic.twitter.com/wncTzLULXQ

— Reuters Business (@ReutersBiz) August 20, 2020

#Japan Opposition Parties Set to Merge to Challenge Weakened Abe – Bloomberghttps://t.co/C539m2AGXo

— Christophe Barraud (@C_Barraud) August 20, 2020

A surge in Japan’s bill issuance is exerting upward pressure on yields and reinforcing the case for the central bank to buy more https://t.co/UEZ8Kx98SC

— Bloomberg Economics (@economics) August 20, 2020

US And Japan Defense Chiefs To Meet In Guam This Month – Nikkeihttps://t.co/pehneChUZY

— LiveSquawk (@LiveSquawk) August 19, 2020

Kim Jong Un acknowledges that North Korea’s development goals have been “seriously delayed" https://t.co/R3CIwyK3u5

— Bloomberg Economics (@economics) August 20, 2020

Europe

#Europe #Covid_19: Daily Summary (August 20th)https://t.co/cUP86qxAU9

— Christophe Barraud (@C_Barraud) August 20, 2020

European Countries Will Keep Implementing Restrictive Measures Amid #Covid_19 Resurgencehttps://t.co/kwBKopMEWw

— Christophe Barraud (@C_Barraud) August 19, 2020

EU countries will discuss “when and how to rebuild a framework of fiscal rules” next year to help virus-ravaged countries, according to the bloc’s commissioner for economic and financial affairs https://t.co/4qvhCJYfNO

— Bloomberg Economics (@economics) August 19, 2020

It's rate decision day in Turkey – here's what to expect https://t.co/tvxUnm3N7a

— Bloomberg Economics (@economics) August 20, 2020

American Investors Are Feeling Lucky – Bloomberg
*#Covid_19 has decimated economies around the world, but not markets — or investors’ expectations.
*Link: https://t.co/R5uGPuRwdo pic.twitter.com/cPji078a8C

— Christophe Barraud (@C_Barraud) August 20, 2020

Gamma Exposure is at its highest level ever!!!

The previous record was in January 2020, a month before stocks collapsed in the fastest bear market ever.

This market is all greed, no fear! pic.twitter.com/AjPF2ipTsC

— SentimenTrader (@sentimentrader) August 20, 2020

Meanwhile, risks of a black swan event are rising.

SKEW Index's 50 day average is at the highest level in almost 2 years pic.twitter.com/j0d6w5NgPt

— SentimenTrader (@sentimentrader) August 20, 2020

$NDX Breadth deteriorating for several weeks, now in full breakdown.

More than half of Stocks in the leading index are down over the past month.

A big regime shift *could* be underway – high risk of (1) volatile trading range developing or (2) large correction. Stay nimble. pic.twitter.com/pJrUuZSUQO

— Macro Charts (@MacroCharts) August 20, 2020

Another hated rally? With stocks at record highs, the Yale "Crash Confidence" index hit its most extreme since April 2009. The only other periods where investors were similarly as concerned about a crash as today were in late 2011 and late 2008/early 2009, via @bespokeinvest pic.twitter.com/oJGRwTiWna

— Steven Russolillo (@srussolillo) August 18, 2020

Europe

According to the European Centre for Disease Prevention and Control, 21 European countries (v 20 yesterday) have crossed a key threshold of new coronavirus infections. Latest data showed that the countries have recorded cumulative 14-day infection totals higher than 20 per 100,000 inhabitants, considered an early alarm level by many health experts.


Source: European Centre for Disease Prevention and Control (data as of Aug. 19th)

 

European Countries Will Keep Implementing Restrictive Measures Amid #Covid_19 Resurgencehttps://t.co/kwBKopMEWw

— Christophe Barraud (@C_Barraud) August 19, 2020

 

Germany

#Germany's confirmed coronavirus cases rise by 1,707 (v 1510 yesterday) to 228,621 – RKI – Reuters
*Link: https://t.co/5SMNQjOEus
*RKI: https://t.co/LoHFnnUCU0 pic.twitter.com/bKin3RCZVp

— Christophe Barraud (@C_Barraud) August 20, 2020

 

Spain

#SPAIN'S NEW CORONAVIRUS INFECTIONS RISE TO 3,715 IN 24 HOURS – BBG
*Daily new cases of coronavirus jump to highest since late April, with 3,715, according to data for Spain’s Health Ministry published Wednesday.
*Link: https://t.co/ICJD4p4fYP pic.twitter.com/fAxrq1dwlF

— Christophe Barraud (@C_Barraud) August 19, 2020

#Spain’s Mounting Coronavirus Crisis Is Met by Government Silence – Bloomberghttps://t.co/nr8x4QJMk2

— Christophe Barraud (@C_Barraud) August 20, 2020

 

France

#FRANCE REPORTS 3,776 NEW CORONAVIRUS CASES IN PAST 24 HOURS (v 2238 yesterday)
*Positivity Rate: 3.0% (v 3.0% yesterday).
*Santé Publique France: https://t.co/bZLT3Rguuz pic.twitter.com/RRL6iqUASw

— Christophe Barraud (@C_Barraud) August 19, 2020

#France Reports Jump in New #Coronavirus Cases Over Past 24 Hours – Bloomberghttps://t.co/lkaZ9GPLFI

— Christophe Barraud (@C_Barraud) August 20, 2020

FLASH – 7 départements dépassent le seuil d'alerte du taux d'incidence #COVID19 (50 cas pour 100k habitants): #Guyane (103,89), Bouches du Rhône (85,03), #Paris (73,55), Sarthe (60,69), Val de Marne (53,77), #AlpesMaritimes (52,71) et la Seine-Saint-Denis (50,47). #coronavirus

— Conflits (@Conflits_FR) August 19, 2020

[THREAD]#MétéoCovid du 19 août

Hospitalisations

En France : ⬆️ 162 entrées (J-7 : 143)
Moyenne 153,57 ⬆️ J-1 (150,86)
Total des hospitalisations ⬇️ 4781 (-2)

En Métropole : ⬆️ 136 entrées (J-7 : 133)
Moyenne 130,29 ⬆️ J-1 (129,86)
Total ⬇️ 4629 (-14)

La suite ⤵️ pic.twitter.com/BhxIUEjC0l

— Guillaume Saint-Quentin (@starjoin) August 19, 2020

 

Italy

#ITALY REPORTS 642 VIRUS CASES WEDNESDAY, HIGHEST SINCE MAY 23 (v 403 yesterday)
*Link: https://t.co/KUR6CVKXRE pic.twitter.com/LxGMnwXBiD

— Christophe Barraud (@C_Barraud) August 19, 2020

 


 

Daily New Confirmed Cases (7-day moving average)


Source: Our World in Data

 

Daily New Tests (7-day moving average)

 

Positivity Rates (7-day moving average)

 

Daily New Confirmed Deaths (7-day moving average)

Americas

#Trump's extra $300 in unemployment benefits could run out in 3 weeks – CBShttps://t.co/6qyXIH9hIT

— Christophe Barraud (@C_Barraud) August 19, 2020

Pelosi Hints Democrats Might Pare Stimulus Plan, Seek More Later – Bloomberghttps://t.co/uz7yqGUH0F

— Christophe Barraud (@C_Barraud) August 19, 2020

U.S. official sees 'real desire' for smaller coronavirus relief bill – Reutershttps://t.co/vtYKec5qnh

— Christophe Barraud (@C_Barraud) August 19, 2020

State Department Urges Colleges to Divest From Chinese Companies – Bloomberghttps://t.co/3Ro88oZWcc

— Christophe Barraud (@C_Barraud) August 19, 2020

NEW: Biden Campaign Statement on President Trump’s Victory Lap on His Failed Trade Deal with China

Statement by senior foreign policy advisor @ABlinken on Trump’s false claim that Beijing is “more than living up to” its commitments in the phase one trade deal. pic.twitter.com/5lvOUndiQD

— Ely Ratner (@elyratner) August 18, 2020

#Trump Cancels #China Talks, Raising Questions About #Trade Deal – Bloomberghttps://t.co/8IXHMXGQfZ

— Christophe Barraud (@C_Barraud) August 19, 2020

No new U.S.-#China talks scheduled: White House chief of staff – Reutershttps://t.co/AgFiWLOZ1U

— Christophe Barraud (@C_Barraud) August 19, 2020

The Trump administration is considering additional sanctions on Venezuela aimed at halting the remaining fuel transactions permitted with the South American nation https://t.co/FL5pobnL8Z

— Bloomberg Economics (@economics) August 19, 2020

Trudeau outlines 'expansionist strategy’ with Freeland on board https://t.co/8qKgx9capM

— Bloomberg Economics (@economics) August 19, 2020

Asia

South Korea reports 297 new cases and its biggest daily increase since early March. https://t.co/8stZxiZzyt

— Nikkei Asian Review (@NAR) August 19, 2020

#SouthKorea warns of nationwide coronavirus spread as church outbreaks threaten capital – Reutershttps://t.co/agEVEUNiIK

— Christophe Barraud (@C_Barraud) August 19, 2020

Japan's exports tumble, capex outlook sags as demand wilts https://t.co/AqRBTqk4p8 pic.twitter.com/kPIQAY9oI7

— Reuters Business (@ReutersBiz) August 19, 2020

#Taiwan plans to ban mainland Chinese streaming sites such as iQiyi and Tencent WeTV – SCMPhttps://t.co/DPaFEyA4yy

— Christophe Barraud (@C_Barraud) August 19, 2020

Europe

#Europe #Covid_19: Daily Summary (August 19th)https://t.co/mJn15g2MY5

— Christophe Barraud (@C_Barraud) August 19, 2020

#Brexit trade talks set to stall again over British truckers’ EU access – FThttps://t.co/Tvu34xki46

— Christophe Barraud (@C_Barraud) August 19, 2020

Britain to introduce legally binding environmental targets https://t.co/1L1Ygxpnpn pic.twitter.com/sy8tTbJwfe

— Reuters Business (@ReutersBiz) August 19, 2020

UK inflation unexpectedly accelerates to the highest level since March https://t.co/B6GWPsgzlq

— Bloomberg Economics (@economics) August 19, 2020

#SPX | Stock Market at Record Forcing Everyone to Become Believer – Bloomberg
*Link: https://t.co/xwXrRwnalr pic.twitter.com/Vk7w4HSy0O

— Christophe Barraud (@C_Barraud) August 19, 2020

Oops.

S&P 500 earnings real yield is at its lowest level in a decade!

Prior lows were also times that gold outperformed equities.

What’s different this time?

Stocks have never been at record highs with fundamentals severely depressed.

Never.

Time to buy gold & sell stocks. pic.twitter.com/Yiw4h4DS6Q

— Otavio (Tavi) Costa (@TaviCosta) August 19, 2020

The S&P 500 made new all time highs yesterday with just 6% of stocks making new 52 week highs. pic.twitter.com/78HomhFQyy

— Julien Bittel, CFA (@BittelJulien) August 19, 2020

Nine Nagging Negatives For The US Equity Market https://t.co/27kPm5mYHR

— zerohedge (@zerohedge) August 19, 2020

NO FEAR: $SPY volume is DEAD, only $12b traded past two days, lowest reading since Christmas Eve. Even some single stocks traded more, which rarely happens. No one tweaking their portfolio, feeling content, a confluence of Fed pacification, late summer-ness and sports returning.. pic.twitter.com/yHmbTw8r7L

— Eric Balchunas (@EricBalchunas) August 18, 2020

Wary of returning vacationers spreading Covid-19, European officials will implement new restrictive measures soon to contain the virus. As I flagged in my daily update, several European countries such as Spain have already shown worrying signs with a sharp rebound in new daily confirmed cases. In addition, according to the European Centre for Disease Prevention and Control, twenty one European countries have crossed a key threshold of new coronavirus infections. Latest data showed that the countries have recorded cumulative 14-day infection totals higher than 20 per 100,000 inhabitants, considered an early alarm level by many health experts.

 

Bloomberg highlighted the concerns already prompted Spain and Italy to shut nightclubs and Greece to limit hours for bars and restaurants. More recently, Ireland’s coronavirus restrictions were “significantly” tightened after the number of cases increased rapidly over the past two weeks. Sky News reported that “All businesses have been told to let employees work from home, new limits have been placed on outdoor gatherings, and the government has warned people to avoid public transport to combat the spread of COVID-19.

 

 

In the meantime, the Dutch government issued stricter advice to the public regarding the coronavirus pandemic, telling people to continue working from home as much as possible should remain the norm even after September 1, and to not hold gatherings of more than six people. “I will get straight to the point: the developments surrounding the coronavirus are not going well,” said Prime Minister Mark Rutte.

 

Meanwhile, Bloomberg noted that German Chancellor Angela Merkel echoed this sentiment, ruling out any further loosening of virus measures and highlighting that “a doubling in the number of daily cases in Germany in the last three weeks must be addressed“. In this context, Germany is requiring people returning from heavily affected areas like Spain to quarantine for two weeks or present a negative test to thwart the disease from spreading in schools and workplaces. Reuters added that Austria expanded its travel warning for the Spanish mainland to include the Balearic islands, such as Mallorca and Ibiza. Elsewhere, Croatia is also facing an uptick in Covid-19 infections, which is raising concern over further countries introducing quarantines for those returning from holidays there.

 

 

In France, President Emmanuel Macron recently urged French citizens to remain vigilant as the virus is accelerating again. Furthermore, Labor Minister Elisabeth Borne announced that mask-wearing will be obligatory in most indoor work areas, including meeting rooms, lobbies and open-plan offices. The government is also encouraging employees to work from home whenever possible.

 

In a context where virus counts are rising around the continent, major economies (Germany, France, Italy) are likely to follow Spain (see University of Oxford data) and tighten their healthcare policies in the coming days.

 

 

The problem is that restrictive measures will probably affect economic recovery which has already lost traction since June. According to Bloomberg, “Hopes for a so-called V-shaped rebound have been dashed by indicators and high frequency data that show activity slowing markedly — or even plateauing — below pre-crisis levels.

 

#Europe’s Fading Rebound Turns V-Shape Recovery Into Bird Wing – Bloomberg
*High-frequency indicators signal slowdown as virus cases gain
*Return to pre-virus levels of activity won’t be any time soon
*Link: https://t.co/CzcO8OQiQp pic.twitter.com/MbxEVDt4A1

— Christophe Barraud (@C_Barraud) August 18, 2020

 

All in all, it seems that risks linked to the healthcare situation remains clearly skewed to the downside in the short term and could raise the specter of negative GDP growth in 4Q20 if the trend worsens significantly in September.

Europe

According to the European Centre for Disease Prevention and Control, twenty European countries have crossed a key threshold of new coronavirus infections. Latest data showed that the countries have recorded cumulative 14-day infection totals higher than 20 per 100,000 inhabitants, considered an early alarm level by many health experts.


Source: European Centre for Disease Prevention and Control (data as of Aug. 18th)

 

Germany

#Germany's confirmed coronavirus cases rise by 1,510 v 1390 yesterday) to 226,914: RKI – Reuters
*Link: https://t.co/wwGiSxCJRS
*RKI: https://t.co/LoHFnnUCU0 pic.twitter.com/VDZDlME9gc

— Christophe Barraud (@C_Barraud) August 19, 2020

 

Spain

#Spain recorded 2,128 new coronavirus cases in the past day, up from 1,833 reported a day earlier, according to Health Ministry data published Tuesday.
*Link: https://t.co/jT3z3ROsvb pic.twitter.com/vHSqDJPsCr

— Christophe Barraud (@C_Barraud) August 18, 2020

 

France

#FRANCE REPORTS 2,238 NEW CORONAVIRUS CASES IN PAST 24 HOURS (v 493 yesterday)
*Positivity Rate: 3.0% (v 2.9% yesterday).
*Santé Publique France: https://t.co/bZLT3Rguuz pic.twitter.com/UuoNTBsPst

— Christophe Barraud (@C_Barraud) August 18, 2020

#France to Make Office Masks Mandatory From Sept. 1 : France Info
*France Info cites French Labor Minister Elisabeth Borne in article on website.https://t.co/Itsr17mjX7

— Christophe Barraud (@C_Barraud) August 18, 2020

ALERTE INFO – #COVID19 : La #SeineetMarne, l'#Essonne et les #Yvelines passent en vulnérabilité modéré. C'est désormais toute l'#IledeFrance qui est en vulnérabilité modérée dont #Paris en vulnérabilité élevé. (Santé Publique #France) #coronavirus pic.twitter.com/pFmzTNjKpr

— FLASH INFO Ile-de-France (@info_Paris_IDF) August 18, 2020

 

Italy

#ITALY RECORDS 403 NEW #CORONAVIRUS CASES ON TUESDAY (v 479 yesterday)
*Link: https://t.co/KUR6CVKXRE pic.twitter.com/6S30UgVzMY

— Christophe Barraud (@C_Barraud) August 18, 2020

Coronavirus in Italia, il bollettino del 18 agosto: 403 nuovi casi e 5 morti nelle ultime 24 ore https://t.co/XFn0TVkRUt

— Corriere della Sera (@Corriere) August 18, 2020

 


 

Daily New Confirmed Cases (7-day moving average)


Source: Our World in Data

 

Daily New Tests (7-day moving average)

 

Positivity Rates (7-day moving average)

 

Daily New Confirmed Deaths (7-day moving average)

U.S. High-Grade Bond Sales Set Record, Reach $1.346 Trillion – Bloomberg
*Link: https://t.co/CLB5n9PcA2 pic.twitter.com/Q06ZQRqlHi

— Christophe Barraud (@C_Barraud) August 18, 2020

#Europe’s Fading Rebound Turns V-Shape Recovery Into Bird Wing – Bloomberg
*High-frequency indicators signal slowdown as virus cases gain
*Return to pre-virus levels of activity won’t be any time soon
*Link: https://t.co/CzcO8OQiQp pic.twitter.com/MbxEVDt4A1

— Christophe Barraud (@C_Barraud) August 18, 2020

Fund managers are flipping from thinking we’re in a recession to thinking we’re in the early stages of a fresh economic cycle, according to the BAML survey. pic.twitter.com/ugeevjepa2

— Tracy Alloway (@tracyalloway) August 18, 2020

G-4 central bank balance sheets have expanded nearly $5.7tn (16% of G-4 GDP) since February.

Asset purchases should increase G-4 balance sheets from $21.5tn (57% of GDP) now to nearly $27tn (67% of GDP) by end-2021. pic.twitter.com/Yb1rKBD9Pw

— Daniel Lacalle (@dlacalle_IA) August 17, 2020

Stocks have advanced a *massive* 68% of days over the last 3 Months.

More than 2 UP Days vs Down – among THE best conditions in 20+ years.

And just tied the JAN 2020 spike.

Historically, this led to some pretty bad outcomes – and *may* have just turned down again. Stay nimble. pic.twitter.com/SDCiklFt84

— Macro Charts (@MacroCharts) August 18, 2020

Europe

#Europe Clamps Down on NightLife to Regain Grip on Pandemic – Bloomberghttps://t.co/X2Cvm1oumv

— Christophe Barraud (@C_Barraud) August 18, 2020

 

Germany

#Germany Records Most New Coronavirus Cases in Almost Four Months – Bloomberg pic.twitter.com/6JEIHsyyfv

— Christophe Barraud (@C_Barraud) August 18, 2020

#Germany's confirmed coronavirus cases rise by 1,390 to 225,404 – RKI – Reuters
*Link: https://t.co/LtYsWDFDpO
*RKI: https://t.co/LoHFnnUCU0 pic.twitter.com/MhEAQxyPwm

— Christophe Barraud (@C_Barraud) August 18, 2020

 

Spain

#Spain reports 1,833 new #coronavirus infections, below last week’s record highs – Reuters
*Daily infection statistics tend to dip on Monday due to fewer diagnoses taking place on Sunday.https://t.co/mNWbxzFBo4

— Christophe Barraud (@C_Barraud) August 17, 2020

 

France

#FRANCE REPORTS 493 NEW CORONAVIRUS CASES IN PAST 24 HOURS (v 3015 yesterday)
*Positivity Rate: 2.9% (v 2.8% yesterday).
*Santé Publique France: https://t.co/bZLT3Rguuz pic.twitter.com/KuvgPBaXM9

— Christophe Barraud (@C_Barraud) August 17, 2020

Taux de positivité (aujourd’hui) / Taux de positivité (aujourd’hui – 10 jours) #France#COVID19 #Coronavirus pic.twitter.com/ekQNy54zWb

— oli3be (@oli3be) August 17, 2020

Les cas de #Covid19 continuent de se propager des jeunes vers les anciens. Les admissions a l’hôpital risquent d’augmenter sensiblement dans les prochaines semaines si les comportements n’évoluent pas. pic.twitter.com/P22k1rH2hm

— GRZ (@GuillaumeRozier) August 17, 2020

En cas de circulation très active du virus, des établissements scolaires pourraient être fermés sur une zone géographique limitée #Covid #Coronavirus #Société #Santé
https://t.co/xr8XQ9nIpw

— La Provence (@laprovence) August 17, 2020

 

Italy

Coronavirus in Italia, il bollettino del 17 agosto: 320 nuovi casi e 4 morti nelle ultime 24 ore https://t.co/3XdzPDqwD4

— Corriere della Sera (@Corriere) August 17, 2020

 

Daily New Confirmed Cases (7-day moving average)

Source: Our World in Data


Source: Bloomberg

 

Daily New Tests (7-day moving average)

 

Positivity Rates (7-day moving average)

 

Daily New Confirmed Deaths (7-day moving average)

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