Daily Economics Dashboard - 11 January 2021
An overview of key economic and financial metrics.
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Download an overview of key economic and financial metrics on 11 January 2021 2020.
COVID-19: The total number of cases recorded globally is approximately 90.4 million, with circa 1.9 million reported deaths according to Johns Hopkins University & Medicine.
Equities: Globally, stocks are mostly lower. In Europe, declines have been recorded this morning by the DAX (-0.6%), CAC 40 (-0.5%), STOXX 600 and FTSE 250 (both -0.3%). In Asia, the CSI 300 (-1.0%), S&P / ASX 200 (-0.9%) and the Kospi (-0.1%) were all down on close. However, the Hang Seng was the exception, closing +0.1% higher. In the US, S&P 500 futures are -0.5%.
VIX: Following a -2.8% decline over Friday, the CBOE market volatility index has increased +9.3% this morning to 23.6, which remains above the long term average (LTA) of 19.5. The Euro Stoxx 50 volatility index has also increased this morning, up +4.5% to 21.5, below its LTA of 23.9.
Bonds: The UK 10-year gilt yield, US 10-year treasury yield and German 10-year bund yield have all compressed -1bp to 0.28%, 1.10% and -0.53%, respectively.
Currency: Sterling has depreciated to $1.35, while the euro is currently $1.22. Hedging benefits for US dollar denominated investors into the UK and the eurozone are 0.66% and 1.42% per annum on a five-year basis.
Oil: Brent Crude and the West Texas Intermediate (WTI) have decreased -1.2% and -0.6% to $55.33 and $51.91 per barrel, respectively.
Baltic Dry: The Baltic Dry increased for the eighth consecutive session on Friday, up +10.9% to 1,606, the highest it has been in nearly three months and the largest daily increase since the end of September 2020. Over the week, the Baltic Dry increased +17.6%, largely driven by capesize rates which increased +27% in the week to 8th January. Demand for iron ore has risen in China, as steel mills and traders replenish stocks prior to the Lunar New Year, according to Hellenic Shipping News.
Gold: The price of gold decreased for the third consecutive session on Friday, down -3.4% to $1,849, the largest daily decline since the beginning of November 2020.