Research Briefing | Jul 22, 2021

US | Recovery Tracker climbs in early July despite Delta risks

US Recovery Tracker climbs in early July despite Delta risks - iPad

The US Recovery Tracker added to its nearly five-month streak of weekly gains in the week ended July 9, rising 0.6ppts to 97.6. Consumers continued to spend on restaurant outings, hotel accommodations, and flights, while businesses responded to robust demand by ramping up production.

What you will learn:

  • Mobility fell on reduced driving activity, but this may have been a seasonal fluke around the Fourth of July weekend. Health conditions improved slightly despite the spread of the Delta variant as vaccinations slowly progressed. 
  • Our State Recovery Trackers took a breather after the July 4th holiday as only 7 states recorded higher readings. Texas and California saw the sharpest drops.
  • On the health front, the glass half-full view is that 63% of the adult population is now fully vaccinated and 73% has received one dose. The glass half empty view is that vaccination rates have slowed to 550k/day and the number of new Covid19 cases is surging. 

Back to Resource Hub

Related Services

ECB

Post

Eurozone: ECB minutes indicate that July rate hike is a near-certainty

The minutes from the April ECB meeting confirm the hawkish tilt initiated a few months ago continues to gain momentum. With a majority of the council increasingly concerned about the inflation outlook, this makes an interest rate hike already in July almost certain. This should not come as a surprise, however, as recent developments render hawks' case arguably easier to make.

Find Out More
Japanese yen

Post

For how long will Japan’s households support bonds and the yen?

Households' financial surpluses sharply increased in 2020 and remained high in 2021 due to the Covid pandemic. Most of the surplus continued to go to cash and deposits, but there was a notable increase in funds going to investment trusts (with a large portion invested in foreign equities) in 2021. Amid rising international yield differentials and a weakening yen, there is market chatter about whether this is the beginning of a structural shift from households' risk-averse investment style?

Find Out More