Last month, we had mentioned the phased easing of lockdown restrictions which was anticipated to spur an economic recovery. Alas, things are not necessarily turning out as planned. While the number of cases worldwide is on a downward trend, we are unfortunately seeing an uptick here in the US. The COVID-19 hotspot has now moved from New York to southern states such as Florida, Texas, and Arizona. In addition, we are witnessing another spike in California. This has led a number of states which had reopened or had plans for reopening, take a step back as they address the crisis. Similarly, in Europe, Germany, Portugal, and Spain have imposed local lockdowns as cases spike in certain areas....
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