Covid-19 Daily Dashboard - 9 October 2020

Download an overview of key economic and financial metrics relating to Covid-19 on 9 October 2020.

Equities: In Europe, stocks are higher this morning, with both the STOXX 600 and the FTSE 250 adding +0.4%, while the CAC 40 (+0.5%) and the DAX (+0.1%) have also recorded gains. In Asia, the Hang Seng (-0.3%) and the Topix (-0.5%) both closed down, while the S&P / ASX 200 was flat on close. In the US, futures for the S&P 500 are up +0.5% 

VIX: Following a -6.1% decrease yesterday, the CBOE market volatility index has contracted a further -1.3% over the morning to 26.0. This remains elevated compared to its long term average (LTA) of 19.9. The Euro Stoxx 50 vix has also declined, down -4.4% to 23.0, below its LTA of 23.9.  

Bonds: The US 10-year treasury yield and the German 10-year bund yield have both compressed -1bp to 0.77% and -0.54%, while the UK 10-year gilt yield is down -2bps to 0.27%. 

Currency: Sterling and the euro are  currently $1.29 and $1.18, respectively. Hedging benefits for US dollar denominated investors into the UK and the eurozone are at 0.38% and 1.21% per annum on a five-year basis. 

Oil: Brent Crude and the West Texas Intermediate (WTI) have declined -0.7% and -0.9% to $43.02 and $40.84, respectively.  

Baltic Dry: The Baltic Dry decreased for the second consecutive session yesterday, down -3.6% to 1,970. 

Gold: The price of gold increased +0.3% yesterday to $1,893 per troy ounce. 

US Unemployment: There were 840k new unemployment applications in the week to 3rd  October, above market expectations of 820k, albeit lower than the previous week’s reading of 849k.

UK GDP: GDP grew +2.1% in August, its fourth consecutive monthly increase. However, GDP this was below market expectations of +5% and was lower than the previous month’s +6.4% increase. While August’s GDP is +21.7% higher than the low point in April, it remains -9.2% below levels seen in February 2020, prior to the full impact of COVID-19.