Covid-19 Daily Dashboard – 11 September 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 11 September 2020.
Equities: Equity markets are mixed across Europe, with the DAX (-0.3%) and the CAC 40 (-0.1%) lower over the morning, while the FTSE 250 is up +0.1% and the STOXX 600 is flat. Stocks mostly closed higher in Asia, with gains recorded by the CSI 300 (+1.0%), the Hang Seng (+0.8%) and the Topix (+0.7%). However, the S&P / ASX was -0.8% lower on close and the KOSPI was flat. In the US, futures for the S&P 500 are up +1.0%.
VIX: The CBOE market volatility index remains volatile in itself, with the index increasing +3.1% yesterday, before decreasing -5.2% over the morning to 28.2. In Europe, the Euro Stoxx 50 volatility price index has decreased -1.8% to 24.6. Both indices remain elevated compared to their long term averages of 19.8 and 23.9.
Bonds: The UK 10-year gilt yield has compressed -3bps to 0.21%, while the German 10-year bund yield and the Italian 10-year bond yield are both down -2bps to -0.46% and 1.05%. The US 10-year treasury yield has softened +1bp to 0.69%.
Currency: The euro has appreciated to $1.19, while sterling has depreciated to $1.28. Hedging benefits for US dollar denominated investors into the UK and the eurozone are 0.32% and 1.12% per annum on a five-year basis.
Oil: Brent Crude and the West Texas Intermediate (WTI) are down -0.4% and -0.1% to $39.91 and $37.26 per barrel. This is the first time both Brent Crude and the WTI have been below $40 per barrel since early June.
Baltic Dry: The Baltic Dry declined -2.1% yesterday to 1,269, bringing cumulative declines over the last 12 trading sessions to -16%. While the index is down -35% from the peak in July, it is +16% higher than it was in January.
US Unemployment: The were 884k new unemployment applications in the week to 5th September, above market expectations of 846k and unchanged from the week prior.
UK GDP: Monthly GDP grew by +6.6% in July 2020, its third monthly increase following growth of +8.7% in June and +2.4% in May, according to the ONS. July GDP is +18.6% higher than the April 2020 low, however, it remains -11.7% lower compared to February 2020, prior to the impact of coronavirus. In the three months to July, GDP contracted -7.6% with declines recorded across all major sectors of the economy.