Futures Slide After Five "Mild" Cases Of Omicron Variant Detected In New York
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Futures Slide After Five "Mild" Cases Of Omicron Variant Detected In New York

It's an outcome that could be seen from a mile away - and we made sure everyone following us would see it this morning, when we said to "expect a cluster of NYC cases in the next 24 hours" after it was reported that the 2nd identified US case in Minneapolis had attended the Anime NYC 2021 convention at the Javits Center from Nov. 19-21...

... but apparently the news that more cases are emerging in NYC has come as a total shock to the algos programmed by 19 year old math PhD's.

Moments ago, during a press conference by New York Gov. Kathy Hochul with NYC Mayor Bill de Blasio, the two announced that at least five cases of the COVID-19 omicron variant were reported in New York, just hours after the Minnesota Department of Health (MDH) announced a case in a resident with a recent travel history to New York City.

The five confirmed cases in the state of New York include:

  1. 67-year-old woman in Suffolk County - some vaccination history present, unknown how many doses she received
  2. Queens based case - unknown gender - unknown if vaccinated
  3. Queens based case - unknown gender - unknown if vaccinated
  4. Brooklyn based case - unknown gender - unknown if vaccinated
  5. Just received word of a 5th suspected case - no further info

What is far more important - because by now everyone knows that the omicron variant is highly transmissible - is that all of the cases are said to be "mild" and everyone recovered at home. In other words, while we collect more and more data point, every incremental observation validates the optimistic take that omicron may spread faster but is indeed, as the South African doctor who first identified it, "extremely mild."

Gov Hochul confirmed as much, saying that "while [Omicron] may be highly transmissible we want people to know that the early cases that arise are not life threatening, they seem to be minor cases"

Of course, all the nuances was wasted on the headline scanning algos, and futures which had levitated after the close to trade near session highs in today's torrid short covering session, dropped on the news, and were down about 15 points...

... or about 3 spoos for every new case. We can't wait for the algos to learn that there are over 8 million New Yorkers (actually probably less than that now that so many are fleeing de Blasio' socialist paradise).

Tyler Durden Thu, 12/02/2021 - 18:48
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