Good morning. This week, some states and territories will begin to roll back some coronavirus restrictions, in line with the federal government’s roadmap to recovery. That means you and nine lucky others can sit in a cafe again. Joy!

1. As you are no doubt aware, on Friday the prime minister announced Australia’s three-step plan to relaxing coronavirus restrictions by the end of July. Under phase one, which begins as soon as the states are ready to implement it, cafes and restaurants can reopen with strict social distancing measures in place.

2. The impetus on how fast to follow the federal government’s roadmap is left up to the states. NSW Premier Gladys Berejiklian announced on Sunday her state would implement phase one from this Friday, for example. Daniel Andrews is expected to announce how Victoria will proceed today, after saying on Friday his government would proceed extremely cautiously.

3. We’re likely to get a clearer picture of the economic damage wrought by the coronavirus this week, as several large Australian companies provide earnings and trading updates. Updates from CIMIC, Commonwealth Bank and Westfield operator Unibail-Rodamco will land this week, giving investors a little more clarity on what we’re dealing with here.

4. Now, that info is probably pertinent to know, given the Australian share market has basically mounted a full recovery. “It’s like the market is on fast-forward,” Pieter Stoltz, equity strategist at investment bank UBS, told The Age and The Sydney Morning Herald. “I’m surprised at how quickly it’s priced in this recovery.” The sign of a certain V-shaped recovery? Or is it just large-scale delusion about just how bad this is going to be?

5. Remember the banking royal commission? So long ago. The Treasury quietly announced Friday it will delay two key deadlines for financial services reform due to the coronavirus. With banks now stretched juggling an expected sharp spike in bad loans and an effort to shore up their capital positions, there are certainly valid reasons for the move. That being said… you’d hope they hit the next deadline.

6. No one disputes the Australian economy has taken a shellacking from the coronavirus and social distancing orders, but it pales in comparison to what’s happening in the US. Friday’s April nonfarm payroll report from the US Labour Department was dismal – the US economy lost a record 20.5 million jobs, and the unemployment rate surged to 14.7%. “The size of the devastation is incredible, then you have to consider the speed of it as well,” Nick Bunker, an economist at Indeed, told Business Insider.

7. Elon Musk says Tesla will ‘immediately’ leave California after coronavirus shutdowns forced the company to close its main car factory. In a tweet Saturday morning, the chief executive continued his outrage against shelter-in-place orders that have forced most non-essential businesses to close. Genuine concern, or just worrying about his back pocket? Why, I’ll leave that to the reader to decide.

8. Australia isn’t the only country talking about a graduated return to normality. Despite its significantly higher death toll, the UK is also making moves to end the shutdown. Prime Minister Boris Johnson announced outdoor activities will be allowed from this week, with golf courses and tennis courts re-opening. Some restaurants and cafes with outdoor space will be allowed to re-open from July.

9. The acknowledged consequence of relaxing rules like these is an increase in cases – which Scott Morrison warned about in his announcement. Germany is going through that right now. The number of cases in the country is beginning to rise again, according to the latest official data. Chancellor Angela Merkel has pledged to reimpose lockdown restrictions if the virus makes a comeback.

10. The central Chinese city of Wuhan, where the pandemic originated, has reported its first new coronavirus case in more than a month. The Wuhan Municipal Health Commission said Sunday an 89-year-old man was confirmed to have the virus on Saturday. His wife, along with several members of the community, were recorded as asymptomatic cases, which are not included in official case tallies. On Sunday, the National Health Commission revealed that 14 new symptomatic cases were reported on Saturday, marking the largest increase since April 28.

BONUS ITEM

Here’s some photos from around the world on how we’re all adapting to new social distancing measures. Pretty interesting! And dystopian!

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