May 24, 2021 - Financial Occultist

Beds and ventilators are running low, with doctors warning of a “system collapse” due to the acceleration of COVID-19 case numbers in the prefecture.

Osaka Prefecture has 9 million people
3,849 new positive tests in the week to Thursday (May 20)
By Thursday, 96% of the 348 hospital beds Osaka reserves for serious virus cases were in use

Says the Japan Times:

14% of the prefecture’s 13,770 COVID-19 patients have been hospitalized, leaving the majority to fend for themselves.
Tokyo’s latest hospitalization rate, in comparison, is 37%.
A government advisory panel sees rates of less than 25% as a trigger to consider imposition of a state of emergency.

Based on these sorts of numbers it appears likely an extension of the Osaka State of Emergency is likely.

Beds and ventilators are running low, with doctors warning of a "system collapse" due to the acceleration of COVID-19 case numbers in the prefecture.

Reminder: It is a long weekend in most parts of Europe

24-May-21 10:40 am

Analysis

Anirudh Sethi

Key markets in Europe will be closed today

This will be in observance of Pentecost/Whit Monday. Of note, German, French, and Swiss markets will be closed but London will be open so at least there’s that.

But in any case, we may be in for a more quiet session as the market continues to waver so far on the day with major currencies little changed. US futures were mixed earlier but are holding a a slight advance ahead of European morning trade later.