Though COVID-19 cases are trending a bit down, the pressure on hospitals that kicked in mid-July as cases rose due to the highly infectious delta variant has extended into September and is unlikely to go away for a while, Jefferies analysts said.
Hospitalizations have increased 1% over the last two weeks, per a New York Times tracker, and the U.S. is averaging roughly 1,500 deaths a day, for the first time since March. Some coronavirus hotspots are reporting extremely stressed hospital capacity, with Idaho hospitals this week beginning to ration medical care amid skyrocketing COVID-19 cases.
