Another record day for Germany as cases continue to soar
The number of active cases across the country has grown to be more than ~120,000 as of yesterday, having more than doubled over the past two weeks. Another 89 deaths were reported today, bringing the total tally to 10,272 persons.
Despite Merkel's announcement of 'lockdown light' (⬆️), cases are still expected to be on the rise in the coming weeks before the measures truly kick into effect.
As for the German economy, many services will be impacted but as schools stay open and the manufacturing sector keeps operating, that may be able to stem some of the bleeding alongside some fiscal help provided by the government in the meantime.
European equities took things on the chin yesterday, with the DAX slumping by over 4% in a drop to its lowest level since late May. There might be room for some retracement as we wrap up the week, but I'm skeptical of a dead cat bounce ahead of the election.
