Covid-19 Daily Dashboard – 5 May 2020
An overview of key economic and financial metrics.
1 minute to read
Equities
Global equities were up this morning, after a slight rebound in oil prices. Increases were led by the STOXX 600, which added +1.5%, followed by DAX and FTSE 100, both up +1.3%.
Bonds
Germany’s top court has ruled that its central bank must end certain types of government bond purchases within three months, unless the ECB can prove they are needed. The ECB has been instructed to sell the bonds it has accumulated under the Public Sector Purchase Programme (PSPP), launched in 2015 (€2.1 trillion of bonds). The 10-year German bond yield is currently -0.58%, -12bps lower than a week ago.
Currency
The Euro has depreciated over the morning to $1.08, with the hedging benefit for US dollar denominated investors into the Eurozone currently at 1.15% per annum, on a five-year basis. Sterling is currently $1.25. Hedging benefits for US dollar denominated investors into the UK are 0.20% per annum on a five-year basis.
Baltic Dry
This measure of demand for raw materials declined for the tenth consecutive session yesterday, falling by -3.1% to below $600, indicating continued subdued demand for manufacturing.
Oil
Brent Crude rose by 7.5% over the morning. With some governments starting to cautiously ease lockdowns, crude oil prices have elevated due in part to hopes of higher demand, reducing the supply-demand imbalance.
UK Furlough Scheme
Between 23rd March and 5th April, 27% of the UK workforce participated in the furlough scheme, according to the ONS. This comprises 14% of the workers in trading businesses and 78% of the workforce in businesses that have paused trading or are temporarily closed.
Download an overview of key economic and financial metrics relating to Covid-19 on 5 May 2020.