Texas virus hospitalizations rise 11% in past 24 hours
State officials cite surging hospitalizations
That's not good. The headline took down risk trades in another sign of how closely the market is watching the growing outbreak in parts of the US.
I don't believe this chart includes today but you get the idea on Texas hospitalizations:
Today is a fifth straight record jump.
There are 1473 available ICU beds remaining in Texas.
For a bit of perspective, here was New York City at the height of the pandemic. Hospitalizations went from 190 on March 15 to 1416 on March 26 -- 11 days later.
If you look at the pace in Texas, even an 11% daily rise is still less than that jump, which averaged an increase of 20% daily.
Still, it doesn't have to be NYC-bad to be bad.