Covid-19 Daily Dashboard – 12 August 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 12 August 2020.
Equities: In Europe, the STOXX 600 and the CAC 40 are both +0.3% over the morning, while the DAX and FTSE 250 are both -0.1%. In the US, futures for the S&P 500 are up +0.8%. In Asia, the Hang Seng (+1.4%), Topix (+1.2%) and Kospi (+0.6%) closed higher, while the CSI 300 (-0.7%) and the S&P / ASX 200 (-0.1%) were down.
VIX: The CBOE market volatility index remains volatile in itself, with the index increasing +8.6% yesterday, before decreasing -5.2% over the morning to 23.6. This level remains elevated, relative to its long term average. In Europe, the Euro Stoxx 50 volatility price index has increased +0.6% to 23.5, but remains below the long term average of 23.9.
Bonds: The US 10-year treasury yield has softened +3bps to 0.67%, the UK 10-year gilt yield +2bps to 0.22% and the German 10-year bund yield +1bp to -0.46%.
Currency: Sterling and the euro remain steady at $1.31 and $1.18, respectively. Hedging benefits for US dollar denominated investors into the UK and the eurozone are 0.29% and 1.11% per annum on a five-year basis.
Baltic Dry: The Baltic Dry index gained a further +0.3% yesterday, lifting the index to 1,510.
Oil: Brent Crude and the West Texas Intermediate (WTI) are up +1.3% and +1.4% over the morning, to $45.09 per barrel and $42.20 per barrel. Both Brent Crude and the WTI are the highest they have been since early March.
Gold: The price of gold has declined back below $2,000 after contracting -5% to $1,921. Gold surpassed $2,000 on 4th August and remained above for the following 4 sessions.
UK GDP: The UK has entered into its first recession in 11 years, with GDP declining -20.4% in Q2 2020, following a -2.2% fall in Q1. While the reduction in GDP is slightly smaller than expectations of -20.5%, it remains the largest quarterly decline in GDP on record. According to the ONS, GDP has recovered by 8.7% over June, but remains -17.2% below February, before the full onset of COVID-19 in the UK.
Lockdown: A three day lockdown has been reintroduced in Auckland, New Zealand, following a family, who hadn’t recently travelled, presenting with COVID-19. Nationwide, large gatherings have also been restricted.