Gigantic heat waves, and 2nd wave of Covid in Europe

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Temperatures reached triple digits in Woodland Hills, the Antelope Valley and Acton while daily records were set at three locations in Los Angeles County Sunday in the worst heat wave in years.

And, the extreme heat isn’t over, yet.

“It’s going to be H-O-T,” NBC4 forecaster Belen De Leon said. “We’re also looking at a chance of thunderstorms in the deserts and mountains.”

Temperatures are set to rise again to dangerous levels beginning Tuesday. Excessive heat warnings remained in effect through 9 p.m. Wednesday in the Antelope, Santa Clarita and San Fernando valleys.

The second wave of coronavirus is rolling into Europe. Whether or not this is a bad thing, or just something we will learn to live with, remains to be seen. Markets think we will learn to live with it. That’s the consensus view.

But the risk, of course, is that European governments will react more in line with how the Australian and New Zealand government has reacted to mini-outbreaks and not like Sweden, or the southern states of the U.S.

Many political leaders are of the mind that so long as the number of coronavirus cases is rising, whether it’s just a sore throat and a daylong fever, or a week in an ICU unit, the economy must be restricted. It’s a tug of war between those that want lockdowns until a vaccine is out, and those who want us all to tough it out. Over the weekend, people in Spain took to the streets in large crowds, some without masks, to protest their governments return to restrictions.

As a result of this tug of war, the global economy is now seen losing its mojo, Barclays Capital economists believe.

Economic data from last week suggests some slowdown in activity following the initial snapback when lockdowns ended in China, Europe and the U.S.


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