Covid-19 Daily Dashboard - 23 October 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 23 October 2020.
Equities: Globally, stocks are mostly higher. In Europe, the CAC 40 and the FTSE 250 have both added +1.1% over the morning, while the DAX (+0.7%) and the STOXX 600 (+0.6%) have also recorded gains. In Asia, the Hang Seng (+0.5%), Topix (+0.3%) and the Kospi (+0.2%) all closed higher, while the CSI 300 (-1.2%) and the S&P / ASX 200 (-0.1%) were both down on close. In the US, futures for the S&P 500 are up +0.1%.
VIX: After declining -1.9% yesterday, the CBOE market volatility index has decreased a further -0.7% this morning to 27.9. The Euro Stoxx 50 volatility index has also contracted, down -3.5% to 28.0. Both indices are elevated compared to their long term averages of 19.9 and 23.9.
Bonds: The UK 10-year gilt yield has softened +1bp to 0.29%, while the US 10-year treasury yield has compressed -1bp to 0.86% and the German 10-year bund yield is flat at -0.57%.
Currency: Sterling and the euro are currently $1.31 and $1.18, respectively. Hedging benefits for US dollar denominated investors into the UK and the eurozone are at 0.39% and 1.25% per annum on a five-year basis.
Baltic Dry: The Baltic Dry has increased for the first time in 12 sessions yesterday, up +4.1% to 1,401. Since the start of the 11-session rout on 7th October, the index has seen cumulative declines of -33%, however the Baltic Dry remains +29% higher than it was at the beginning of the year.
Gold: The price of gold decreased -1.0% yesterday to $1,904 per troy ounce. Gold remains +25% higher than it was at the start of January, however it is -8% lower than its record high of $2,063 in August.
US Unemployment: There were 787k new unemployment applications in the week to 17th October, below market expectations of 860k and lower than the previous week’s reading of 842k.
UK PMIs: Flash PMIs for both the Services and Manufacturing sectors declined in October from the month before, missing expectations, but remaining in expansionary territory, above 50. The Services PMI declined from 56.1 in September to 52.3 in October, compared to expectations of 54.0. The Manufacturing PMI contracted from 54.1 last month to 53.3 in October, below expectations of 54.3.