US cases still at a high rate
The good news is that US cases rose 1.0% yesterday compared to the 1.2% average over the past week.
The bad news is that 29,214 new cases is still a heckuva lot of people getting sick and now 109,901 Americans have died including 709 yesterday.
If you compare new US cases to Italy and the UK, the trend isn't exactly a reason for the buy-everything trade that's percolating in equity markets and risk assets.
The curve is flat but it's not going down and with the end of social distancing, it's tough to envision a further swift fall.
One country that's getting some fresh attention is Iran, which is in the grips of a second wave.
