Staying with the UK, the virus numbers continued to deteriorate yesterday amidst the spread of the delta
variant, with the number of daily cases at a 6-month high of 48,553. It’s very clear that this rise is
having an impact on hospitalisations, with the numbers admitted to hospital each day now up by more than
5-fold since the recent low in mid-May (when they fell beneath 100 per day). That said, they are still a
fraction of the peak of more than 4,000 a day that we saw in early January.