US recovery marches on; why deaths are diverging from sharply rising infections; the American scientific trust gap vs the rest of the world; energy paper client Q&A.
While COVID temporarily reduced global CO2 emissions to 2006 levels, a faster and broader renewable energy transition will be needed to result in more permanent reductions. This year’s topics include decarbonization of steel; the amount of energy storage, reforestation and carbon sequestration required to make an impact; and the financial, political and environmental risks to US energy independence.
An update on the COVID-19 crisis as the US prepares to reopen despite having one of the highest infection rates in the world. Additional topics: monoclonal antibodies and anti-viral trials; the growing gap between markets and the economy; S&P 500 earnings haves and have-nots; regional equity performance (Europe loses again) and leveraged loans at a time of rising bankruptcies.
Michael discusses the coronavirus latest infection rates by country and latitude, anti-viral and vaccine efforts, and what equity markets are pricing in.
An update on the Democratic Primary. Confounding almost every forecast we saw last week, Senator Biden appears to have emerged from Super Tuesday with a sizeable delegate lead. Why might the night have turned out so differently from what was expected just a few days ago? This week's note includes some charts and exhibits to think about.