Covid-19 Daily Dashboard – 19 May 2020
An overview of key economic and financial metrics.
2 minutes to read
Equities
Following sharp gains yesterday by global equity markets, downbeat data related to car registrations for the month of April in Europe as well as scepticism over a proposal by Germany and France for a further EU stimulus package has led to declines this morning. However, the FTSE 250 has bucked the trend, currently up +0.8%. This is despite an increase in UK unemployment benefit claimants of 856,500 over April, bringing the total claimant count to 2.1 million.
VIX
The “investor fear gauge”, the VIX volatility index remains highly volatile. Having decreased by -8.1% yesterday, today, the index has so far increased by 6.8%. Near term equity market volatility is expected to continue.
Currency
Sterling and the euro are at $1.22 and $1.10, respectively, with the euro having seen appreciation against the dollar.
Bonds
The Italian 10-year government bond yield fell to a one month low of 1.65% this morning, while the German 10-year bund yield has increased slightly to -0.46%. As a result, the yield gap between German 10-year bonds and Italian 10-year bonds is currently 211bps, down from 245bps seen last week. Over in the US, yesterday, 10-year US treasury bond yields increased by +9bps to 0.73% on the back of vaccine hopes.
Baltic Dry
The Baltic Dry index appreciated for its second consecutive session yesterday, increasing by +4.9% to $427. This follows eighteen sessions of declines, from an index of $757 on 20th April.
Oil
The West Texas Intermediate (WTI) has declined slightly this morning, albeit, remaining above $30 at $31.49 a barrel. However, Brent Crude appreciated this morning, up 0.5% to $34.99. Reuters are reporting that demand is starting to recover in major oil consuming countries, including India and China, with Chinese refiners making profits from turning crude into fuels.
Download an overview of key economic and financial metrics relating to Covid-19 on 19 May 2020.
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