ECONOMICS

Daily Economics Dashboard - 23 April 2021

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


Download an overview of key economic and financial metrics on 23 April 2021.

  • Equities: In Europe, stocks are lower, with declines led by the STOXX 600 (-0.4%), followed by the DAX (-0.3%), FTSE 250 and CAC 40 (both -0.2%). In Asia, the Hang Seng (+1.3%), CSI 300 (+0.9%), KOSPI (+0.3%), and S&P / ASX 200 (+0.1%) all closed higher. The TOPIX (-0.4%) was the exception, closing lower. In the US, futures for the S&P 500 and Dow Jones Industrial Average (DJIA) are +0.2% and +0.1%, respectively.
  • VIX: Following a +7% increase over Thursday, the CBOE market volatility index has since declined this morning, down -2.1% to 18.3. Meanwhile, the Euro Stoxx 50 volatility index is higher, up +4.3% to 18.5. Both the CBOE and Euro Stoxx vix remaining below their long term average of 19.9 and 23.9, respectively.
  • Bonds: The US 10-year treasury yield has softened +1bp to 1.56%, while the UK 10-year gilt yield has compressed -2bps to 0.72% and the German 10-year bund yield is -1bp lower at -0.27%.
  • Currency: The euro has appreciated to $1.21, while sterling is currently $1.39. Currency hedging benefits for US dollar denominated investors into the UK and Eurozone are at 0.54% and 1.63% on a five year basis.
  • Oil: Brent Crude and the West Texas Intermediate (WTI) are currently $65.39 and $61.52, respectively.
  • Baltic Dry: The Baltic Dry increased for the seventh consecutive session on Thursday, up +1.5% to 2750, its highest level in ten and a half years. Prices were pushed higher yesterday by capesize rates which increased +1.6% to their highest level since early October 2020. The index is now +101% above where it was at the beginning of the year.
  • US Unemployment: There were 547k new unemployment applications in the week to 17th April, below market expectations of 617k and lower than 586k in the week prior. This is the lowest level of jobless claims since March 2020, before the implications of COVID-19.
  • UK Borrowing: Public sector net borrowing reached £303.1bn in the year to March, +£250bn above the level over the year prior and the highest level of government borrowing since the end of WWII, albeit below the OBR’s forecast of £354.6bn. In the month of March, public sector net borrowing totalled £28bn, £21bn higher than March 2020.