There’s no doubt that Europe is seeing a second wave of coronavirus infections, but the surge is not affecting its major economies in the same way.
The U.K., France and Spain, as well as the Netherlands, have all seen a sharp rise in cases since late August-early September. But Italy and Germany have lagged behind their counterparts, only now seeing numbers starting to pick up dramatically.
JPMorgan analysts have looked at the phenomenon and believe they know what’s behind the disparity.
