Covid-19 Daily Dashboard – 29 April 2020
An overview of key economic and financial metrics relating to Covid-19 on 29 April 2020.
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Highlights today across key economic and financial indicators:
Equities
Global equities have incurred their third day of gains this morning, in line with oil prices increasing. The FTSE 250 added +0.8%, followed by the FTSE 100 (+0.7%) and Frankfurt’s DAX (+0.2%).
VIX
The “investor fear gauge”, the VIX volatility index, has fallen slightly this morning, currently at 33.3, after closing yesterday at 33.6. Levels continue to be closer to that last seen during the Eurozone currency crisis, compared to the GFC.
Currency
Sterling has remained at $1.25 this morning, with hedging benefits for US dollar denominated investors into the UK circa 0.14% per annum on a five-year basis.
Oil
Oil prices have risen following reports published by the American Petroleum Institute, which outlined that the global oversupply of oil may be easing. In response, West Texas Intermediate (WTI) increased by over 12.4% to $13.85 a barrel.
Italian Credit Rating
Fitch has downgraded Italy’s credit rating to one notch above junk, highlighting the impact of COVID-19 on the country’s economy. The rating’s agency has questioned the sustainability of Rome’s borrowing, after the city took on extra debt to cope with COVID-19. Fitch expect the country’s ratio of debt to GDP to rise by circa 20 percentage points to 156% in 2020, with the increased spending exacerbated by an expected 8% contraction in GDP.
Download an overview of key economic and financial metrics relating to Covid-19 on 29 April 2020.