Coronavirus (COVID-19) has recently returned to haunt market confidence. In addition to fears of increased cases and death tolls in the Asia-Pacific area, variations have emerged as a serious danger to public opinion over concerns about vaccination resistance and rapid dissemination.
However, New South Wales (NSW) in Australia reports 44 new community cases, while West Australia (WA) and Queensland have none. Despite this, NSW Premier Gladys Berejiklian dismissed the possibility of unlocking by next Friday, saying, “NSW is facing the greatest challenge we have encountered since the pandemic began.”
“Flights carrying New Zealanders going home from Australia’s New South Wales region that were planned to start on Saturday have been called off after the COVID-19 outbreak in Sydney deteriorated,” a New Zealand minister said, according to Reuters.
South Korea, on the other hand, has reported 1,316 cases, the biggest daily increase since the pandemic began, prompting policymakers to convene an emergency conference and raise alert levels in the capital to the highest. In addition, Thailand has reported 9,276 cases and 72 deaths, while Nikkei has reported record daily infections and death tolls in Indonesia, adding, “On Thursday, the archipelago reported 38,391 new cases, a new high. Its daily death toll of 1,040 on Wednesday was also a record, and it was the first time it surpassed 1,000.”
According to Reuters, the UK’s covid infection rate has risen to a seven-month high “Official government data revealed that Britain reported 32,551 new COVID-19 cases and 35 fatalities within 28 days of a positive test on Thursday. In comparison, 32,548 cases and 33 deaths were reported the day before.”
It’s worth noting that an anonymous investigation in the United States indicated that over half of the covid infections in the previous two weeks were caused by the strains, posing a threat to the economy’s recovery.
The market’s rush for risk-safety sparked a rise in US Treasury yields from a multi-day low as a result of the covid troubles.
Read more: US Treasury yields rise from February lows as coronavirus fears grow/n
