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Mar 13 - 11:00 AM

G10: COVID-19 Cases May Surpass 1 Million Globally; What's Next? - MUFG

By eFXdata  —  Mar 13 - 09:30 AM

MUFG Research discusses the current conditions of COVID-19 to get a handle on when we might see a peak. 

"The COVID-19 data continues to paint the same picture as before. The good news on offer is that China and South Korea are showing evidence of peak – new cases in China today stand at +21 with total cases plateauing just over the 80k level. The bad news is that new cases ex-China continue to accelerate. There was another new record yesterday with 7,832 new cases, up from the previous day’s record of 6,531," MUFG notes. 

"We have looked at the average percentage daily increase in global ex-China cases, over a 10-day period – the gain is currently +17%. If you assume that the same average over the last 10 days persists for the remainder of March, the global number of COVID-19 cases will surpass 1 million...Fears over health and safety and the economic impact are not going away any time soon," MUFG adds. 

Source:
MUFG Research/Market Commentary

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