COVID-19 Daily Cases Still Down; Raising YE Target to 3,525

Fortunately, it was another good week for COVID-19 data prints. Even with a backlog of California cases polluting the data this week, daily cases are still down on a 7D basis.

A few clients asked us if the fall in cases is primarily due to falling testing. This is an argument put forth by some media outlets, and I disagree. Foremost, testing is a "pull" function, meaning few are subject to forced testing (essential workers, etc.). Thus, the only people seeking testing are: sick, in contact w...

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