The bottom line is that Europe continues to improve but with some signs of slowing, which indicates that the reproduction rate R is moving up. German health authorities on Saturday said R had moved to 1.1, which raises concern that opening up further will lead to a further increase and a rebound in daily infections. We expect more focus on this as reopening is gathering pace across Europe. The US improvement is still slow, raising concerns of a second wave as the economy reopens. China and South Korea have seen an increase in new cases over the weekend. Countries such as India, Russia, Brazil, Mexico, Nigeria and South Africa are still struggling to reach the peak in new infections.
Read the full article on Danske Bank Research's website.