Daily Economics Dashboard - 10 March 2021
An overview of key economic and financial metrics.
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Download an overview of key economic and financial metrics on 10 March 2021.
Equities: Globally, stocks are mixed. In Europe, the CAC 40 (+0.5%), DAX (+0.4%) and STOXX 600 (+0.1%) are all higher over the morning, however the FTSE 250 is down -0.1%. In Asia, the CSI 300 (+0.7%), Hang Seng (+0.5%), and TOPIX (+0.1%) all closed higher, while the S&P / ASX 200 (-0.8%) and KOSPI (-0.6%) both closed down. In the US, futures for the S&P 500 and the Dow Jones Industrial Average (DJIA) are up +0.2% and +0.3%.
Tech Stocks: Yesterday, the Nasdaq gained +4%, spurred by a +19.6% increase in Tesla stocks, as well as Amazon (+3.8%) and Microsoft (+2.8%) both recording their highest daily growth in over a month.
VIX: After decreasing -6% over Tuesday, the CBOE market volatility index has declined further, down -2.5% this morning to 23.4, remaining elevated compared to its long term average (LTA) of 19.9. The Euro Stoxx 50 volatility index is also lower this morning, down -1.1% to 20.0, remaining below its LTA of 23.9.
Bonds: The US 10-year treasury yield has softened +3bps to 1.56%, while the UK 10-year gilt yield has added +1bp to 0.73% and the German 10-year bund yield has held steady at -0.30%.
Currency: Sterling and the euro are currently $1.39 and $1.19, respectively. Hedging benefits into the UK and the Eurozone are 0.57% and 1.63%, respectively, on a five-year basis, slightly down from yesterday.
Oil: Brent Crude and the West Texas Intermediate (WTI) have decreased -0.4% and -0.2% to $67.25 and $63.88, respectively. The latest Baker Hughes rig count found there were 403 active oil rigs in the US as at 5th March 2021, compared to 402 las month and 793 one year ago. Internationally, the number of active oil rigs in February stood at 701, compared to 677 one month ago and 1,085 in February 2020.
Gold: The price of gold increased +2.0% yesterday to $1,717 per troy ounce, its highest daily increase since the beginning of the year.
Baltic Dry: The Baltic Dry increased for the sixth consecutive session on Tuesday, up +2.6% to 1901, a five-month high. Prices have been pushed higher by the capsize index, which increased +6.8% yesterday to its highest level since late January.