Covid-19 Daily Dashboard - 16 October 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 16 October 2020.
Equities: In Europe, stocks are higher this morning, with gains recorded by the CAC 40 (+1.1%), STOXX 600 (+0.5%), DAX (+0.4%) and the FTSE 250 (+0.1%). In Asia, the Topix (-0.9%), Kospi (-0.8%), S&P / ASX 200 (-0.5%) and the CSI 300 (-0.1%) all closed lower. The Hang Seng (+0.9%) was the only index to close higher. In the US, futures for the S&P 500 are down -0.1%.VIX: After increasing +2.2% yesterday, the CBOE market volatility index is up a further +0.9% this morning to 27.2. Meanwhile, the Euro Stoxx 50 volatility index has declined -3.2% to 26.0. Both indices are elevated compared to their long term averages of 19.9 and 23.9.
Bonds: The German 10-year bund yield and the US 10-year treasury yield have both compressed -2bps to -0.63% and 0.72%, while the UK 10-year gilt yield and the Italian 10-year bond yield are down -1bp to 0.17% and 0.68%.
Currency: Sterling and the euro are currently $1.29 and $1.17, respectively. Hedging benefits for US dollar denominated investors into the UK and the eurozone are at 0.40% and 1.21% per annum on a five-year basis.
Oil: Brent Crude and the West Texas Intermediate (WTI) are down -1.5% and -1.3% to $42.52 and $40.41.
Baltic Dry: The Baltic Dry decreased for the seventh consecutive session yesterday, down -4.6% to 1,561. The index is now -20% lower than the peak seen in July, due to a -26% cumulative decline over the last eight sessions. However, the index remains +43% higher than it was at the start of January.
Gold: The price of gold increased +0.4% yesterday to $1,908 per troy ounce. Gold remains -8% lower than its record high in August, but is +25% higher than it was at the start of the year.
US Unemployment: There were 898k new unemployment applications in the week to 10th October, above market expectations of 825k and the highest level in close to two months.
US Election: Predictit, the online political futures market currently indicates a 40% likelihood of President Trump being re-elected in November, compared to a 38% probability last week and a 45% likelihood one month ago. The current probability of Joe Biden winning the election is 65%, down from 67% one week ago and 58% last month