Covid-19 Daily Dashboard – 11 June 2020
An overview of key economic and financial metrics.
2 minutes to read
Download an overview of key economic and financial metrics relating to Covid-19 on 11 June 2020.
Equities: Declines were seen across Europe this morning, with the FTSE 250 down -2.7%, while the STOXX 600 (-2.4%) recorded its fourth day of losses, according to the FT. In the US, futures for the S&P 500 and the Dow Jones Industrial Average point to losses of -1.8% and -2.2%, respectively, upon open. This comes in the wake of the US Federal Reserve’s first COVID-19 adjusted US economic projections, as well as some concerns over subsequent waves of COVID-19.
VIX: The “investor fear gauge”, the CBOE market volatility index is back above 30 at 30.4, having risen by +11% over the course of the morning. The Euro Stoxx 50 volatility price index remains above 30, at 33.5 up +12%. Both of these indices indicate further expectations of near-term volatility.
Bonds: Following the Fed’s announcement that interest rates will likely not rise until the end of 2022, the UK 10-year gilt yield, US 10-year treasury yield and German 10-year bund yield have declined to 0.23%, 0.70% and -0.37%, respectively.
Currency: Sterling is currently $1.27 and the euro $1.14. Hedging benefits for US dollar denominated investors into the UK and the Eurozone are 0.28% and 1.08% per annum on a five-year basis, respectively.
Baltic Dry: The Baltic Dry Index increased for its eighth consecutive session yesterday, up +7.0% to 764. The index has now recovered and surpassed its losses from 757 on 20th April, following an 18 session rout.
Oil: Oil prices have continued to fall following concerns regarding the potential re-emergence of oversupply. Brent Crude is currently down -3.4% to $40.30 a barrel, while the West Texas Intermediate (WTI) has declined -3.1% to $38.37 per barrel.
Join this week’s Commercial Conversations weekly insights webinar
On Thursday 18th June at 9:30am Will Matthews is joined by Emily Relf and Justin Eng who will discuss the early signs of recovery in APAC markets, implications for capital flows and the inferences that can be drawn for other markets.
Register for Commercial Conversations.