ECONOMICS

Daily Economics Dashboard - 22 April 2021

An overview of key economic and financial metrics.
Written By:
William Matthews, Knight Frank
2 minutes to read
Categories: Research service Occupier Topic Covid-19 Economics Forecast World Regions UK London


Download an overview of key economic and financial metrics on 22 April 2021.

  • Equities: In Europe, stocks are higher, with the CAC 40 up +0.7%, while the STOXX 600, DAX and FTSE 250 have all added +0.5% over the morning. In Asia, the TOPIX (+1.8%), S&P / ASX 200 (+0.8%) Hang Seng (+0.3%) and KOSPI (+0.2%) all closed higher. The CSI 300 (-0.2%) was the exception, closing lower. In the US, futures for the S&P 500 and Dow Jones Industrial Average (DJIA) are both -0.1%.
  • VIX: Following a -6% decrease over Wednesday, the CBOE market volatility index has since declined further this morning, down -1.7% to 17.2. The Euro Stoxx 50 volatility index is also lower, down -5.1% to 18.3. Both the CBOE and Euro Stoxx vix remain below their long term average of 19.9 and 23.9, respectively.
  • Bonds: The UK 10-year gilt yield and German 10-year bund yield have both compressed -1bp to 0.73% and -0.27%, while the US 10-year treasury yield has held steady this morning at 1.56%.
  • Currency: Sterling and the euro are currently $1.39 and $1.20, respectively. Currency hedging benefits for US dollar denominated investors into the UK and Eurozone are at 0.52% and 1.61% on a five year basis.
  • Oil: Brent Crude and the West Texas Intermediate (WTI) have decreased -0.7% and -0.8% to $64.68 and $60.88, respectively.
  • Baltic Dry: The Baltic Dry increased for the sixth consecutive session on Wednesday, up +9.6% to 2710, its highest level in a decade and its largest daily increase since mid February. Prices were pushed to a 10-year peak yesterday by capsize rates which increased +16.2% to their highest level since October 2020. The index is now +98% above where it was at the beginning of the year and is +17% higher than the previous peak in March of 2319.
  • Financial Distress: In the UK, over the last quarter, the number of firms in significant financial distress rose at the fastest pace for seven years, increasing by 100k (15%). The transport and logistics sector saw the largest impact with the number of firms in significant financial distress rising by +25% over the first quarter of 2021 compared to Q4 2020.