Covid-19 Daily Dashboard – 25 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 25 August 2020.
Equities: In Europe, the STOXX 600 is up +0.3%, driven by the CAC 40 (+0.7%), the DAX (+0.5%) and the FTSE 250 (0.2%). In the US, futures for the S&P 500 are also positive (+0.3%). In Asia, the Kospi (+1.6%) and the TOPIX (+1.1%) were the best performing indexes, followed by the S&P / ASX 200 (+0.5%) and the CSI 300 (0.1%). The Hang Seng was the only negative index (-0.3%).
VIX: While the CBOE market volatility index remained flat at 22.39 so far this morning, the Euro Stoxx 50 volatility price index has declined -5.0% to 23.1, below its long term average of 23.3.
Bonds: The US 10-year treasury yield and the German 10-year bund yield both have softened +3bps to 0.68% and -0.47% respectively. The UK 10-year gilt yield was up +2bps to 0.23%. The Italian 10-year government bond yield has also increased +5bps to 1.06%, widening the spread versus the German bond to 152bps.
Currency: Both sterling and the euro remain broadly stable at $1.31 and $1.18. Hedging benefits for US dollar denominated investors into the UK and the eurozone are 0.29% and 1.08% per annum on a five-year basis.
Oil: Brent Crude and the West Texas Intermediate (WTI) are currently $45.69 and $42.52 per barrel, having increased +5.3% and +2.2% over the month, respectively.
Baltic Dry: The Baltic Dry index gained a further +0.7% yesterday to 1,491, +37% above where it was in January.
Gold: The price of gold is down -0.3% so far today to $1,933 per troy ounce, which is -6.6% lower than the record high reached earlier this month.
German GDP: Following a -2.0% decline in GDP over Q1 2020, Germany’s GDP declined a further -9.7% in the second quarter of 2020, the deepest quarterly contraction on record, but better than market expectations of -10.1%. The reading has had a positive effect on European equities and the euro so far today.
Brexit: According to Oddschecker, there is currently a 49% probability of a trade deal being signed between the UK and European Union before the end of 2020.