Daily Economics Dashboard - 12 February 2021
An overview of key economic and financial metrics.
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Download an overview of key economic and financial metrics on 12 February 2021 2020.
Equities: In Europe, stocks are mixed this morning, with the DAX (-0.6%) and FTSE 250 (-0.3%) both lower, while the STOXX 600 and the CAC 40 are both flat. In Asia, most markets are closed due to the Lunar New Year holiday, however, the S&P / ASX 200 (-0.6%) was down on close. Futures for the S&P 500 are currently -0.2%.
VIX: Following a -3% decrease over Thursday, the CBOE market volatility index has increased +2.3% this morning to 21.7, remaining above its long term average (LTA) of 19.5. Meanwhile, the Euro Stoxx 50 volatility index is flat at 21.2, remaining 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 -1bps this morning to 0.46%, 1.15% and -0.47%. Meanwhile, the Italian 10-year bond yield has compressed -2bps this morning to 0.44%, a new record low.
Currency: Sterling and the euro are currently $1.38 and $1.21, respectively. Hedging benefits for US dollar denominated investors into the UK and the eurozone are at 0.46% and 1.36% per annum on a five-year basis.
Baltic Dry: The Baltic Dry increased for the first time in four sessions on Thursday, up +0.8% to 1313. The index is currently -29% below the four-month high seen in mid January 2021.
Oil: Brent Crude and the West Texas Intermediate (WTI) have both declined this morning, down -0.6% and -0.7% to $60.78 and $57.86, respectively. The latest Baker Hughes rig count found there were 392 active oil rigs in the US as at 5th February 2021, compared to 790 one year ago. Internationally, the number of active oil rigs in January stood at 677, compared to 689 in the month prior.
UK GDP: UK GDP increased an estimated +1.0% in Q4 2020, following a +16.1% increase in Q3 2020, according to the ONS. Over the year, the economy declined -9.9% in 2020, its largest contraction on record. Over December 2020, GDP increased +1.2%, following a -2.3% decline in November 2020.
Lockdown: From tonight, Victoria in Australia will go into its third lockdown, until Wednesday. In England, from Monday, hotel quarantine for UK/Irish nationals and permanent residents arriving from ‘red list’ countries will begin.