Geography, demography and the value of life
Paul Jackson. Global Head of Asset Allocation Research and András Vig. Multi Asset Strategist
Fed up with trying to follow the latest policy initiatives and explain market twists and turns? We are taking a break from all of that and look instead at Covid-19 data from a few different perspectives.
The reasons why mortality rates have varied so much across countries are no doubt many fold but we focus on the role of geography and the age of the population: Northern countries seem to have higher Covid-19 mortality rates, as do those with large over-65 populations.
Data on excess deaths in Europe suggests there is actually a deficit versus weekly norms in the under-15 age group. In particular, that deficit is concentrated in the 5-14 age range. Could that be linked to the closure of schools and less road accidents?
We also look at the economic cost incurred per life potentially being saved by lock downs and compare to existing value-of-life calculations. We ask whether this may change attitudes to spending and regulations aimed at preventing deaths from other sources (tobacco, alcohol, air pollution, road accidents, obesity etc.).
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Investment risks
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The value of investments and any income will fluctuate (this may partly be the result of exchange rate fluctuations) and investors may not get back the full amount invested
Important information
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Data as at 30.04.2020, unless otherwise stated. This document is marketing material and is not intended as a recommendation to invest in any particular asset class, security or strategy. Regulatory requirements that require impartiality of investment/investment strategy recommendations are therefore not applicable nor are any prohibitions to trade before publication. The information provided is for illustrative purposes only, it should not be relied upon as recommendations to buy or sell securities.
Where individuals or the business have expressed opinions, they are based on current market conditions, they may differ from those of other investment professionals, they are subject to change without notice and are not to be construed as investment advice.
