By Adam Button
The coronavirus backslide isn’t just a US story; Australia grabbed headlines on the weekend because of outbreaks and a number of countries are hitting various records. The started another week on a sour note and was the weakest after a dismal . (more below). The US services jumped to 57.1 from 45.5, showing the biggest 1-month rise on record is the early highlight of the week.
The jump in Australian cases along with flareups in China and Japan shows how difficult COVID-19 will be to contain. On the weekend, US cases rose again but the market has so far brushed it aside. Some of that is because of lower mortality rates but there are also signs of complacency as summer hits.
The tug-of-war between easy money and virus fears has turned into a summer stalemate. So far, the economic impacts of the lockdown and a rebound in economic measures on pent-up demand and massive government stimulus was…