Daily Economics Dashboard - 12 March 2021
An overview of key economic and financial metrics.
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Download an overview of key economic and financial metrics on 12 March 2021.
Equities: In Europe, stocks are lower. The DAX (-0.7%), STOXX 600 (-0.5%), FTSE 250 (-0.4%) and CAC 40 (-0.2%) are all lower over the morning. In Asia, the TOPIX and KOSPI both closed +1.4% higher, with the S&P / ASX 200 (+0.8%) and CSI 300 (+0.4%) also up on close. The Hang Seng was the exception, down -2.2% on close. In the US, futures for the S&P 500 and the (DJIA) are down -0.6% and -0.1%.
VIX: After decreasing -3% over Thursday, the CBOE market volatility index has since increased +4.9% this morning to 23.0, above its long term average (LTA) of 19.9. The Euro Stoxx 50 volatility index is also higher this morning, up +5.2% to 19.9, remaining below its LTA of 23.9. Italian bond yields
Bonds: The US 10-year treasury yield has softened +7bps to 1.60%, while the UK 10-year gilt yield is +5bps higher at 0.79 and the German 10-year bund yield is up +1bp to -0.32%. The Italian 10-year bond yield compressed -8bps over yesterday to 0.60%, its lowest level in over two weeks following the European Central Bank’s pledge to increase its bond purchasing scheme. This morning, the bond yield is +3bps higher at 0.63%.
Currency: The euro has depreciated to $1.19, while sterling is currently $1.39. Hedging benefits into the UK and the Eurozone are 0.60% and 1.68%.
Oil: Brent Crude and the West Texas Intermediate (WTI) have increased +0.2% and +0.1% to $69.79 and $66.11, respectively.
Baltic Dry: The Baltic Dry decreased for the first time in eight sessions on Thursday, down -0.5% to 1970. Prices were pushed lower by the capsize index, which declined -3% yesterday.
US Unemployment: There were 712k new unemployment applications in the week to 5th March, below market expectations of 725k and below 754k last week. This is the lowest reading since the first week of November. Jobless claims remain elevated compared to the 211k recorded on the second week of March 2020, pre pandemic.
UK GDP: Monthly GDP declined -2.9% in January, better than market expectations of -4.9%, albeit lower than December 2020’s +1.2% growth. January’s GDP is -9.0% below levels seen in February 2020, pre pandemic.