Daily Economics Dashboard - 7 January 2021
An overview of key economic and financial metrics.
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Download an overview of key economic and financial metrics on 7 January 2021 2020.
Equities: In Europe, stocks are mostly up this morning with gains recorded by the DAX (+0.4%), STOXX 600 and CAC 40 (both +0.2%), however, the FTSE 250 is down -0.5%. In Asia, the Kospi (+2.1%), CSI 300 (+1.8%), Topix (+1.7%) and S&P / ASX 200 (+1.6%) all closed higher, while the Hang Seng (-0.5%) was the only index to close lower. In the US, S&P 500 futures are +0.3%.
VIX: Following a -3.3% decline over yesterday, the CBOE market volatility index has decreased a further -5.8% this morning to 23.6, which remains above the long term average (LTA) of 19.5. The Euro Stoxx 50 volatility index has also decreased this morning, down -0.1% to 21.4, below its LTA of 23.9.
Bonds: The German 10-year bund yield has compressed -3bps to -0.57%, while the UK 10-year gilt yield and the US 10-year treasury yield are flat at 0.24% and 1.04%, respectively.
Currency: Sterling has depreciated to $1.36, while the euro is currently $1.23. Hedging benefits for US dollar denominated investors into the UK and the eurozone are 0.61% and 1.37% per annum on a five-year basis.
Oil: Brent Crude has decreased -0.3% to $54.14 per barrel, while the West Texas Intermediate (WTI) has increased +0.2% to $50.72.
Baltic Dry: The Baltic Dry increased +0.5% on Wednesday to 1,425, the highest it has been since mid October.
Gold: The price of gold decreased -1.5% on Wednesday to $1,921, the largest daily decline since the beginning of December 2020.
Georgia Run-off Election: Democrats Jon Ossoff and Raphael Warnock have been announced as the winners of the Georgia run-off election. This is the first time that the Democratic party will control the Senate, House of Representatives and White House since 2009.
Eurozone PMIs: The eurozone manufacturing PMI was 55.2 in December, below market expectations of 55.5, albeit higher than the 53.8 recorded in November. The services PMI was also improved in December, up from 41.7 in November to 46.4. This is the fourth month the services PMI has been in contractionary territory (figure below 50).