Covid-19 Daily Dashboard – 08 June 2020
An overview of key economic and financial metrics.
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Download an overview of key economic and financial metrics relating to Covid-19 on 08 June 2020.
Equities: US stocks rallied on Friday after an unexpected rise in US jobs data. The unemployment rate fell to +13.3% in May, down from +14.7% in April, with the US economy gaining 2.5m jobs. The Nasdaq reached a record peak during the day according to the FT, increasing +9% over the day. In Europe, news that Germany’s industrial output for April slumped by -17.9%, put a dampener on markets, with the STOXX 600 down -0.7% over this morning and Frankfurt’s DAX down -0.8%.
VIX: The “investor fear gauge”, the CBOE market volatility index, remains below 30, currently at 25.5. The Euro Stoxx 50 volatility price index is also below 30 at 27.7.
Bonds: Following the release of unemployment numbers, US 10-year treasury yields have since increased to +0.91%, the highest level since 20th March, as investors sell down their riskless assets. In the UK 10-year gilt yields have decreased by -1bp to +0.35%, whilst the German 10-year bund remained flat at -0.29%.
Currency: Sterling and the euro appreciated slightly, at $1.27 and $1.13 respectively. Hedging benefits for US dollar denominated investors into the UK have increased to 0.38% per annum on a five-year basis.
Baltic Dry: The Baltic Dry Index increased for its fifth consecutive session yesterday, up +7.4% to 679, continuing to pare back its losses to 757 recorded on 20th April or to 1,090 seen at the end of last year.
Oil: Oil prices gained as OPEC and Russia agreed a one month extension to production cuts on Sunday. The West Texas Intermediate (WTI) has increased slightly +0.38% to $39.70, whilst Brent Crude remains above $40 a barrel at $42.84.