Daily Economics Dashboard - 8 March 2021
An overview of key economic and financial metrics.
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Download an overview of key economic and financial metrics on 8 March 2021.
Equities: Globally, stocks are mixed. In Europe, the DAX (+0.9%), STOXX 600 (+0.6%), CAC 40 (+0.5%) and FTSE 250 (+0.4%) are all higher over the morning. Meanwhile in Asia, the CSI 300 (-3.5%), Hang Seng (-1.9%), KOSPI (-1.0%) and TOPIX (-0.1%) all closed lower. The S&P / ASX 200 was the exception, up +0.4% on close. In the US, futures for the S&P 500 are down -0.8%.
VIX: After decreasing -14% over Friday, the CBOE market volatility index is higher this morning, up +11.8% to 27.6, remaining elevated compared to its long term average (LTA) of 19.9. Meanwhile, the Euro Stoxx 50 volatility index is lower this morning, down -5.1% to 23.8, remaining just below its LTA of 23.9.
Bonds: The US 10-year treasury yield has softened +3bps to 1.61%, while the German 10-year bund yield has added +2bps to -0.29% and the UK 10-year gilt yield is up +1bp to 0.77%. The US treasury yield is now at its highest level since January 2020, following the Senate passing President Biden’s $1.9 trillion stimulus bill.
Currency: Sterling and the euro are currently $1.38 and $1.19, respectively. Hedging benefits into the UK and the Eurozone are 0.57% and 1.65%, respectively, on a five-year basis, slightly up from 0.56% and 1.64% on Friday.
Oil: Brent Crude and the West Texas Intermediate (WTI) have increased +0.2% and +0.3% to $69.50 and $66.32, their strongest levels since May 2019 and October 2018, respectively.
Baltic Dry: The Baltic Dry increased +2.8% over Friday to 1829, its highest level since 21st January. The index increased circa +9% over last week and is just -1% below the four-month high seen in January 2021.
German Industrial Production: German Industrial production declined -2.5% over the month of January, lower than expectations of +0.2% and below December’s +1.9% monthly increase. Industrial production is now -3.9% below January 2019.