FAST FIVE: Decline In UK COVID Cases Signals Coming "Inflection" For US As Delta Fears Subside
Because one week later, the number of new cases being confirmed in the UK and EU has fallen, even as the UK's “Freedom Day” has come and gone.
The total number of new cases over the past week, at just over a quarter of a million, is more than 20% lower than the prior week.
While the UK's economy-crippling “pingdemic” continues, and many have continued to isolate, meaning the UK is still a way's away from achieving a return to “normality”.
Given the strong correlation between cases and vaccinations, BofA adds that economic risks for heavily vaccinated countries like the US – despite the Biden Administration's warnings about a “pandemic of the unvaccinated” – remain low.
The disparity can be seen quite clearly in a pair of charts from a recent BofA note: just look at the difference between the vaccination rate for the UK, and its attendant impact on virus-related mortality.