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Weekend data suggest NYC indeed peaked last week and glimmers of positive state trends in COVID-19

Given the steep sell-off of equities on Friday, it was clear investors were bracing for another weekend of bad news and a Sunday night futures massacre (which has been the story for the past few weeks).  But the developments over the weekend were marginally positive, in our view.  We thought it was wise for the President and White House to extend the "stay at home" through April 30th.

POINT #1: New York City daily new cases likely peaked on 3/25/2020...
Among the incrementally positive data, it does indeed appear that New York City COVID-19 daily new cases have peaked.  This is something we flagged last week, and wondered aloud.  Given some of the changes of testing methodology, etc., there is bound to be some inconsistency, but the overall trend seems to be improving.  

- Notice, the daily new cases reported for 3/29/2020 is 2,710 which is similar to the number of cases reported on 3/24/2020 (5 days earlier) and with 50% estimated greater tests conducted (the test data is NY statewide, not city).

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Even data by borough shows a similar trend.  That daily new cases across all boroughs seems to be coming down.  Queens remains the borough with greatest new cases but the recent figure of 906 is down 50% from where it was on 3/25/2020.POINT #2: The last few days does sugge...

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