Daily Economics Dashboard - 17 February 2021
An overview of key economic and financial metrics.
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Download an overview of key economic and financial metrics on 17 February 2021 2020.
Equities: In Europe, stocks are mostly lower this morning, with losses recorded by the FTSE 250 (-0.7%), DAX (-0.6%) and STOXX 600 (-0.3%), while the CAC 40 is flat. In Asia, the only market higher on close was the Hang Seng (+1.1%), as the KOSPI (-0.9%), Nikkei 225 (-0.6%), S&P / ASX 200 (-0.5%) and TOPIX (-0.2%) were all down on close. In the US, futures for the S&P 500 are flat this morning.
VIX: Following a +7% increase over Tuesday, the CBOE market volatility index broadly stable at 21.5, just above its long term average (LTA) of 19.9. The Euro Stoxx 50 volatility index is lower over the morning, down -3.1% to 20.3, 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 -1bp to 0.61%, 1.30 and -0.35%, respectively.
Currency: Sterling and the euro are currently $1.39 and $1.21, respectively. Hedging benefits for US dollar denominated investors into the UK and the eurozone are at 0.54% and 1.44% per annum on a five-year basis.
Baltic Dry: The Baltic Dry increased for the fourth consecutive session on Tuesday, up +9.6% to 1495, the highest it has been since 27th January 2021 and its largest daily increase in over a month. The index is now -19% below the four-month high seen in mid January 2021. Prices have been pushed upwards by capesize rates which increased +17.8% yesterday to their strongest level since 5th February 2021. Panamax rates also drove prices higher, up +8.8% to their highest level since September 2019.
Oil: The West Texas Intermediate (WTI) has increased back above $60 per barrel this morning, up +1.3% to $60.80. Brent Crude is also higher, up +1.6% to $64.33. Both Brent Crude and the WTI are at their strongest prices since December 2019. Oil prices have been supported this week by severe cold weather in Texas, with production expected to be disrupted for several days as a minimum, with wellheads frozen and refineries forced to shut.
UK Inflation: Inflation increased +0.7% over the 12-months to January 2021, up from +0.6% in December 2020. The increase in prices were driven by furniture & household goods, restaurants & hotels, food and transport.