Daily Economics Dashboard - 23 February 2021
An overview of key economic and financial metrics.
2 minutes to read
Download an overview of key economic and financial metrics on 23 February 2021 2020.
Equities: In Europe, the DAX (-1.6%), STOXX 600 (-1.2%) and CAC 40 (-0.5%) are down, while the FTSE 250 is up +0.8% this morning. In Asia, the CSI 300 and KOSPI both closed -0.3% down, while the Hang Seng (+1.0%) and S&P / ASX 200 (+0.9%) were higher on close. In the US, futures for the S&P 500 are -0.5% this morning.
VIX: After increasing +6% over Monday, the CBOE market volatility index has added a further +7.6% this morning to 25.2, above its long term average (LTA) of 19.9. Meanwhile, the Euro Stoxx 50 volatility index is closed.
Bonds: the UK 10-year gilt yield and German 10-year bund yield have both softened +4bps to 0.72% and -0.31%, while the US 10-year treasury yield has held steady at 1.37%. The US treasury yield and UK gilt yield remain at their highest levels since February and March 2020, respectively.
Currency: Sterling and the euro are currently $1.40 and $1.21, respectively. Hedging benefits for US dollar denominated investors into the UK have returned to normal levels, currently at 0.49% per annum on a five-year basis, following yesterdays dip to 29%. Hedging benefits into the Eurozone on a five-year basis remain high, currently at 1.49%.
Oil: The West Texas Intermediate (WTI) has increased back above $60 per barrel this morning, up +1.1% to $62.16, while Brent Crude has decreased -0.7% to $64.80.
Copper: Copper, an important industrial metal, surpassed $9,000 a tonne for the first time since 2011 on Monday, driven by increased demand following the Lunar New Year and a supply deficit. Year to date, the metal is up +15%.
UK Unemployment: Unemployment reached 5.1% in the three months to December, an increase of +0.4% compared to the previous quarter and in line with expectations. The employment rate was 75%, -1.5% lower than the year prior, with circa 541k less people in employment.
England Lockdown: Boris Johnson has outlined a phased roadmap out of Lockdown, which will see measures start to ease on a data conditional basis, in staggered phases from 8th March to 21st June. All eligible adults are to be offered their first vaccination by 31st July 2021.