The Lutheran's and UMC definitely do not believe in the reformed idea of covenant baptism. They don't go so far as to say that the sacraments actually infuse grace but my wife and I have witnessed several UMC infant baptisms and they clearly stated that the child is now a sealed believer with their sins washed away (they did however later have to be confirmed, the Lutherans had a similar idea that baptism more or less saves but they have to later be confirmed). This comes from actually talking to a Lutheran pastor.

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Erick Bohndorf, Covenant Baptist Church, KS
http://qayaqtraveler.blogspot.com/
The question for us today is, will we be like the majority of Israel and continue to look in fear at the giants in the land and urge our fellow Christians to be "realistic," or will we be like Joshua and Caleb and faithfully follow our king, trusting to fulfill every one of his promises completely?