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Good morning. German infection rate at record, desperate measures on oil prices and a big Fed appointment ahead. Here’s what’s moving markets.
Germany is heading toward stiffer restrictions on people who have refused a Covid-19 vaccine, as authorities across Europe seek to rein in a renewed surge in the disease. Europe’s largest economy is grappling with its worst outbreak in the pandemic, posting a fresh record in its infection rate on Tuesday. The country’s response has been complicated by a change in power, with Chancellor Angela Merkel in a caretaker role while a new coalition government takes shape. In an echo from last year, ICU capacities are exceeding 90% in some regions, according to German media.