by Calculated Risk on 5/24/2022 09:01:00 PM

Wednesday:
• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

• At 8:30 AM, Durable Goods Orders for April from the Census Bureau. The consensus is for a 0.6% increase in durable goods orders.

• At 2:00 PM, FOMC Minutes, Minutes Meeting of May 3-4, 2022

On COVID (focus on hospitalizations and deaths):

COVID Metrics
	Now	Week Ago	Goal
Percent fully Vaccinated	66.6%	---	≥70.0%1
Fully Vaccinated (millions)	221.0	---	≥2321
New Cases per Day3🚩	104,480	95,207	≤5,0002
Hospitalized3🚩	19,218	16,424	≤3,0002
Deaths per Day3	279	284	≤502
1 Minimum to achieve "herd immunity" (estimated between 70% and 85%). 2my goals to stop daily posts, 37-day average for Cases, Currently Hospitalized, and Deaths 🚩 Increasing 7-day average week-over-week for Cases, Hospitalized, and Deaths ✅ Goal met.

Click on graph for larger image.

This graph shows the daily (columns) and 7-day average (line) of deaths reported.

New cases have more almost quadrupled from the recent low, and hospitalizations are increasing week-over-week.

Average daily deaths bottomed in July 2021 at 214 per day.