COVID-19 update: Mixed bag of news overnight but growth still trending lower in US and Europe, stocks fall on Trump warning

The bottom line: bit of a mixed bag today. Italy and Germany still show signs of peaking but France saw a jump in new cases. US sees another high in new infections but growth rate stays at 15%. Brazil saw a big move up in infections, while Scandi shows continued improvement.

The number of new cases outside China rose to 72,756, a new high. Europe is behind 52%, while US drives 37% of the new cases. The growth rate of infections remained around 10%.

China added 50 new cases but for the first time saw no new deaths. It looks like the death rate in China outside Hubei will end around the current level of 0.8%.

The US saw a rise in new infections to another high of 24,325 from 22,075. The growth rate is flat around 15% (doubling in five days). New infections rose further in the epicentre of New York, but there has been some stabilisation in new hospitalisations.

Italy still seems to be past the peak. 4,053 new infections were registered yesterday, close to the level on Monday, leaving the growth rate unchanged at 4%. The number of new hospitalisations continues to drop, which points to a decline in new deaths over the coming week. Italy is tracking a peak in total infections around 140,000 from the current level of 106,000.

Germany also looks to be past the peak. 4,923 new infections were registered yesterday, a slight increase from 4,450, but off the high at close to 7,000 over the weekend. The daily growth rate is down to 7%. New deaths still rise but the pace is tapering off. Germany is currently on track for a peak in total cases around 100,000.

France saw a jump in new cases to a high of 7,578 from 4,376. It looks like some catch-up from a too low level over the weekend. The number of new deaths still rises but is tapering off.

Spain saw a rise in new deaths to a high of 849, up from 812. However, it is close to the level from the previous three days and the number of new patients in intensive care units (ICU) continues to decline. It suggests Spain has passed the peak in new infections.

Scandi countries continue to see a rise in infections but at moderate growth rates. In Denmark the number of total hospitalised persons declined for the first time and Norway also saw a decline in total hospitalisations. It adds to the signs of improvement.

Brazil registered a big jump in new infections to 1,138 from 323, which caused some concern. India is seeing a more moderate development with an increase in new cases of 150-200.

Read more on Danske Bank's research site.

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