Covid-19 Daily Dashboard – 12 May 2020
An overview of key economic and financial metrics.
1 minute to read
Equities
European markets were subdued this morning as investors monitored the cautious reopening of some countries across the world, amidst signs of new infections in early movers. The FTSE 100 added +0.3%, while the STOXX 600 was up +0.2% and the DAX remained flat. In terms of year to date (YTD) losses, tech stocks have contributed to the S&P 500 recovering to just a -9% decline YTD.
Bonds
UK 10-year gilt yields have marginally increased recently, currently sitting at 0.28%. The German 10-year Bund yield is back above -0.5%, at -0.49%.
Currency
Sterling has seen slight depreciation to $1.23, while the euro remains flat at $1.08. Hedging benefits for US dollar denominated investors into the UK is circa 0.17% per annum on a five-year basis.
Baltic Dry
The Baltic Dry index yesterday declined for the 14th consecutive session, with a -7.8% fall to below $500, at $474. This has been led by a significant drop in capesize, the largest dry cargo ships, rates. The continued contraction in the Baltic Dry is indicative of the subdued demand for raw materials and subsequently manufacturing.
Oil
Oil prices continue to oscillate. Following a -2.1% decline in Brent Crude yesterday, this morning, both Brent Crude and West Texas Intermediate (WTI) have seen modest gains increasing by +1.1% to $29.97 and +2.7% to $24.79, respectively. This follows an announcement by Saudi Arabia that it will reduce its crude oil production by an extra one million barrels per day, from June.
Download an overview of key economic and financial metrics relating to Covid-19 on 12 May 2020.