Covid-19 Daily Dashboard – 12 June 2020
An overview of key economic and financial metrics.
2 minutes to read
Download an overview of key economic and financial metrics relating to Covid-19 on 12 June 2020.
Equities: A sharp global sell off yesterday saw European and US equity markets record their worst one-day declines since March. This came following the Federal Reserve’s COVID-19 adjusted US economic projections, and US jobless claims increasing by 1.5 million in the week to June 6th. The S&P 500 contracted -5.9% yesterday, while the Nasdaq Composite fell -5.3%. Meanwhile, Frankfurt’s DAX (-4.5%), the STOXX 600 (-4.1%) and the FTSE 100 (-4.0%) all closed down. This morning, European equities are broadly flat, with the DAX and STOXX 600 both seeing modest gains of +0.2
VIX: The “investor fear gauge”, the CBOE market volatility index rose by +48.0% yesterday, to 40.8. This is the highest level since 23rd April and the largest daily increase since February 2018, indicating further expectations of near-term volatility.
Bonds: Bonds have softened this morning, with the UK 10-year gilt yield, US 10-year treasury yield and German 10-year bund yield increasing to 0.19%, 0.69% and -0.43%, respectively.
Currency: Both sterling and the euro have depreciated slightly, currently at $1.26 and $1.14, respectively.
Baltic Dry: The Baltic Dry Index increased for its ninth consecutive session yesterday, up +9.8% to 839. While the index has now surpassed its losses from the 20th April, it is still some way away from the 1,090 seen at the end of last year.
UK Economy: GDP declined by -20.4% over the month to April or the equivalent of £30 billion in Gross Value Added. This is the largest contraction since monthly records began in 1997 and 3x greater than any fall recorded during the GFC, according to the ONS. The decline in GDP reflects the significant impact of a full month of lockdown measures on the services, production and construction sectors, which declined -19%, -20.3% and -40.1%, respectively.
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