Daily Economics Dashboard - 2 March 2021
An overview of key economic and financial metrics.
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Download an overview of key economic and financial metrics on 2 March 2021.
Equities: In Europe, stocks are higher, with gains recorded by the STOXX 600 (+0.5%), FTSE 250 (+0.3%), CAC 40 and DAX (both +0.2%). In Asia, the CSI 300 (-1.3%), Hang Seng (-1.2%), TOPIX and S&P / ASX 200 (both -0.4%) all closed lower. The KOSPI was the exception, up +1.3% on close. In the US, futures for the S&P 500 and Dow Jones Industrial Average (DJIA) are -0.4% and -0.2%, respectively.
VIX: After decreasing -16% over Monday, the CBOE market volatility index has increased +0.7% this morning to 23.5, remaining elevated compared to its long term average (LTA) of 19.9. Meanwhile, the Euro Stoxx 50 volatility index is lower, down -1.3% to 21.9, below its LTA of 23.9.
Bonds: The UK 10-year treasury yield, US 10-year treasury yield and German 10-year bund yield have all softened +1bp to 0.76%, 1.44% and -0.32%, respectively.
Currency: Sterling and the euro have depreciated to $1.39 and $1.20, respectively. Hedging benefits for US dollar denominated investors into the UK and the eurozone are at 0.49% and 1.59% per annum on a five-year basis.
Oil: Brent Crude is broadly flat over the morning at $63.72, while the West Texas Intermediate (WTI) is up +0.2% to $60.74 per barrel.
Baltic Dry: The Baltic Dry declined for the fourth consecutive session on Monday, down -1.4% to 1651, a near two week low. Prices have been pushed lower by capesize rates which were down -2.2% yesterday.
US Manufacturing: The US manufacturing PMI stood at 60.8 in February, above market expectations of 58.8 and higher than January’s reading of 58.7. The manufacturing PMI is now at its highest level since February 2018. However, factories are facing higher costs, with the survey’s measure of prices increasing from 82.1 in January to 86.0 in February, its highest level since July 2008.
UK House Prices: UK house prices were up +6.9% year on year in February, compared to +6.4% in January, according to Nationwide.