trend macrolytics, llc · 8/11/2020  · brazil as of aug 11 39.6 median population age 26.8 median...

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Copyright 2020 Trend Macrolytics LLC. All rights reserved. This document is not to be forwarded to individuals or organizations not authorized by Trend Macrolytics LLC to receive it. For information purposes only; not to be deemed to be recommendations for buying or selling specific securities or to constitute personalized investment advice. Derived from sources deemed to be reliable, but no warranty is made as to accuracy. Trend Macrolytics, LLC Donald Luskin, Chief Investment Officer Thomas Demas, Managing Director Michael Warren, Energy Strategist Data Insights: Covid-2019 Monitor Tuesday, August 11, 2020 The global scorecard India + 53,601 India + 871 US + 49,530 Mexico + 705 Brazil + 22,048 Brazil + 703 Colombia + 10,142 US + 523 Russia + 10,063 Colombia + 312 Philippines + 6,725 South_Africa + 213 Mexico + 5,558 Kazakhstan + 211 Peru + 5,109 Peru + 204 France + 4,854 Russia + 200 Argentina + 4,688 Iran + 189 + 172,318 + 4,131 World + 221,174 World + 5,041 Top ten 78% Top ten 82% World 30.6 median population age New cases New Deaths The worst ten countries 26.435 bp of population infected As of Aug 11 New confirmed cases by continent Source: ECDC, TrendMacro calculations For more information contact us: Donald Luskin: 312 273 6766 [email protected] Thomas Demas: 704 552 3625 [email protected]

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Page 1: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

Copyright 2020 Trend Macrolytics LLC. All rights reserved. This document is not to be forwarded to individuals or organizations not

authorized by Trend Macrolytics LLC to receive it. For information purposes only; not to be deemed to be recommendations for buying

or selling specific securities or to constitute personalized investment advice. Derived from sources deemed to be reliable, but no

warranty is made as to accuracy.

Trend Macrolytics, LLC

Donald Luskin, Chief Investment Officer

Thomas Demas, Managing Director

Michael Warren, Energy Strategist

Data Insights: Covid-2019 Monitor Tuesday, August 11, 2020

The global scorecard

India + 53,601 India + 871

US + 49,530 Mexico + 705

Brazil + 22,048 Brazil + 703

Colombia + 10,142 US + 523

Russia + 10,063 Colombia + 312

Philippines + 6,725 South_Africa + 213

Mexico + 5,558 Kazakhstan + 211

Peru + 5,109 Peru + 204

France + 4,854 Russia + 200

Argentina + 4,688 Iran + 189

+ 172,318 + 4,131

World + 221,174 World + 5,041

Top ten 78% Top ten 82%

World

30.6 median population age

New cases New Deaths

The worst ten countries

26.435 bp of population infected

As of Aug 11

New confirmed cases

by continent

Source: ECDC, TrendMacro calculations

For more information contact us: Donald Luskin: 312 273 6766 [email protected] Thomas Demas: 704 552 3625 [email protected]

Page 2: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

2

The US scorecard National and state-by-state data do not line up because of different sources

New cases New Deaths New in hospital Cume cases Cume deaths Cume in hospital

FL AL CA NY NY

CA FL FL NJ FL

TX WA TX CA NJ

GA VA NY MA GA

AL MS GA TX AZ

LA MD IL FL VA

SC OH AZ IL MD

MS AR NJ PA AL

AR MN NC MI MA

TN GA LA CT OH

All states All states All states All states All states

Top ten Top ten Top ten Top ten Top ten

Fewer daily cases Fewer new deaths Fewer new hospitalizations Most recoveries

United States

TX + 4,988

TN + 2,173

PA + 1,048

OH + 886

MN + 796

TN -925 WA -16 AR -9

NC -826 AR -12 ID -9

-38 GA -24

AL -1,261 LA -32 AZ -15

+ 533

+ 284

+ 105

+ 89

+ 1,686

+ 1,319

+ 1,202

+ 24

+ 18

+ 16

+ 74

+ 2,575

+ 31

+ 30

+ 29

+ 93

+ 66

+ 11

+ 10

+ 328

+ 7,751

+ 4,455

+ 4,155

+ 2,429

CA

TX

FL

MO

GA

Top ten

OH

All states

+ 27,547

+ 41,807

AL

IL

TN

KS + 1,092

+ 883

38.1 median population age

156.404 bp of population infected

61% 67%

5,060,880 154,947

66%

+ 426

77%

Five most improved US states

LA -2,091 TX -85 NJ -43

FL -2,074 CA

561,911 25,204

334,347

74%

The ten worst US states

+ 1,370

+ 1,654

83%

89,995

31,177

21,992

20,676

19,277

14,212

13,247

12,070

12,062

11,629

246,337

185,031 7,317

136,844 6,526

+ 70

+ 64

+ 52

+ 51

+ 48

536,961 15,878

490,817 10,359

196,699 8,408

187,523 7,846

421,336 8,741

219,025 8,490

131,961 4,444

3,068,108 103,213

Dail

y n

ew

cases a

nd d

eath

s

Source: States and test data Covid Tracking Project, US data ECDC, TrendMacro calculations

Page 3: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

3

Recommended reading

Children and the virus: As schools reopen, much

remains unknown about the risk to kids and the peril

they pose to others Haisten Willis, Chelsea Janes and Ariana Eunjung Cha

Washington Post August 10, 2020

First-in-Human Trial of a SARS CoV 2 Recombinant

Spike Protein Nanoparticle Vaccine Cheryl Keech et al.

medRvx August 6, 2020

KDHE doctored a COVID case chart to justify mask

mandates Dave Trabert

The Sentinel August 7, 2020

Lockdown Lunacy 3.0: It's over J. B. Handley

J. B. Handley Blog July 28, 2020

Pelosi, Mnuchin open door to narrower COVID-19 aid

through 2020 Susan Heavey and Jeff Mason

Reuters

August 9, 2020

20% Of Harvard’s First-Year Class Has Deferred Brandon Busteed

Forbes August 7, 2020

NYC Councilman Paul Vallone credits

Hydroxychloroquine for COVID-19 recovery Jon Levine

New York Post

August 8, 2020

Meme of day

g

Source: Our beloved clients, and Power Line blog "The Week in Cartoons"

Page 4: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

4

The coronavirus case accelerometer… tracking the world’s infection curves

Share of infected population from first day with 100 confirmed cases, log scale

Source: ECDC, TrendMacro calculations

Page 5: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

5

The coronavirus mortality accelerometer … tracking the world’s fatality curves

Share of deceased population from day of first fatality

Source: ECDC, TrendMacro calculations

Page 6: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

6

Our most reliable evidence of slowing exponential growth of Covid-2019 Vertical: number of days it takes to double deaths Horizontal: days from first death

Source: ECDC, TrendMacro calculations

Page 7: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

7

Requirement to Open Up America Again: 14-day “downward trajectory” in new cases

14-day moving average, last 14 days Most recent value displayed ⚫ High ⚫ Low

◼ Downward trajectory ◼ Five best ◼ Upward trajectory ◼ Five worst

Source: Covid Tracking Project, TrendMacro calculations

Page 8: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

8

Alt requirement to Open Up America Again: 14-day “downward trajectory” in pos tests 14-day moving average, last 14 days Most recent value displayed ⚫ High ⚫ Low

◼ Downward trajectory ◼ Five best ◼ Upward trajectory ◼ Five worst

Source: Covid Tracking Project, TrendMacro calculations

Page 10: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

10

From Ground Zero to the Rio Grande

New York

US ex-New York

Texas169.27 bp of population infected

33.9 median population age

As of Aug 11

38.1 median population age

216.59 bp of population infected

38.2 median population age

152.58 bp of population infected

Source: ECDC, TrendMacro calculations

Page 11: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

11

The sun-belt hot-spot states (other than Texas)

California

Florida

Arizona257.63 bp of population infected

38.0 median population age

As of Aug 11

42.2 median population age

142.21 bp of population infected

36.7 median population age

250.01 bp of population infected

Source: ECDC, TrendMacro calculations

Page 12: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

12

Patient zero… and then everyone else

China

World ex-China

As of Aug 11

28.8 median population age

0.64 bp of population infected

37.4 median population age

32.24 bp of population infected

Source: ECDC, TrendMacro calculations

Page 13: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

13

Impact in the largest economies

Japan

Germany

France

As of Aug 11

41.2 median population age

30.26 bp of population infected

45.9 median population age

47.3 median population age

3.90 bp of population infected

26.17 bp of population infected

Dail

y new

case

s and d

eath

sD

ail

y new

case

s and d

eath

sD

ail

y new

case

s and d

eath

s

Source: ECDC, TrendMacro calculations

Page 14: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

14

Impact in The Anglosphere

United Kingdom

Canada

Australia7.73 bp of population infected

37.9 median population age

As of Aug 11

46.75 bp of population infected

40.5 median population age

31.70 bp of population infected

40.8 median population age

Source: ECDC, TrendMacro calculations

Page 15: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

15

Impact in continental Europe

Italy

Spain

Switzerland

As of Aug 11

42.2 median population age

42.86 bp of population infected

44.9 median population age

45.5 median population age

41.56 bp of population infected

68.81 bp of population infected

Dail

y new

case

s and d

eath

sD

ail

y new

case

s and d

eath

sD

ail

y new

case

s and d

eath

s

Source: ECDC, TrendMacro calculations

Page 16: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

16

Impact in other hot-spots

South Korea

Singapore

Sweden

As of Aug 11

41.8 median population age

2.83 bp of population infected

96.94 bp of population infected

34.6 median population age

40.9 median population age

81.97 bp of population infected

Dail

y new

case

s and d

eath

sD

ail

y new

case

s and d

eath

sD

ail

y new

case

s and d

eath

s

Source: ECDC, TrendMacro calculations

Page 17: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

17

Impact in the BRICs ex-China

India

Russia

Brazil

As of Aug 11

39.6 median population age

26.8 median population age

16.92 bp of population infected

6.21 bp of population infected

33.5 median population age

145.94 bp of population infected

Dail

y new

case

s and d

eath

sD

ail

y new

case

s and d

eath

sD

ail

y new

case

s and d

eath

s

Source: ECDC, TrendMacro calculations

Page 18: Trend Macrolytics, LLC · 8/11/2020  · Brazil As of Aug 11 39.6 median population age 26.8 median population age 16.92 bp of population infected 6.21 bp of population infected 33.5

18

Impact in the Middle East and Africa

Israel

Iran

Africa (52 nations)7.67 bp of population infected

19.7 median population age

As of Aug 11

30.3 median population age

30.2 median population age

95.93 bp of population infected

37.57 bp of population infected

Dail

y new

case

s and d

eath

sD

ail

y new

case

s and d

eath

sD

ail

y new

case

s and d

eath

s

Source: ECDC, TrendMacro calculations