Daily Economics Dashboard - 5 March 2021

Download an overview of key economic and financial metrics on 5 March 2021.

COVID-19: The total number of cases recorded globally has surpassed 115 million, according to Johns Hopkins University & Medicine. Circa 283.6 million people globally have been vaccinated, an increase of +24% over the week. Reported deaths have reached circa 2.6 million.
Equities: In Europe, stocks are lower with declines recorded by the DAX (-0.7%), CAC 40 (-0.5%), FTSE 250 (-0.5%) and STOXX 600 (-0.4%). In Asia, the S&P / ASX 200 (-0.7%), KOSPI (-0.6%), Hang Seng (-0.5%) and CSI 300 (-0.3%) all closed lower, while the TOPIX closed +0.6%. In the US, futures for the S&P 500 are down -0.1%.
VIX: After increasing +7% over Thursday, the CBOE market volatility index is lower this morning, down -1.1% to 28.3, remaining elevated compared to its long term average (LTA) of 19.9. Meanwhile, the Euro Stoxx 50 volatility index is higher this morning, up +4.4% to 23.1, albeit remaining below its LTA of 23.9.
Bonds: The UK 10-year gilt yield has softened +4bps to 0.77%, while the German 10-year bund yield is down -1bp to -0.30% and the US 10-year treasury yield has held steady at 1.56%.
Currency: Sterling and the euro have depreciated to $1.38 and $1.19, respectively. Hedging benefits for US dollar denominated investors into the Eurozone have increased to 1.64% per annum on a five-year basis, up from 1.59% yesterday and 1.37% one month ago. Hedging benefits into the UK on a five-year basis are currently 0.56%, higher than 0.51% yesterday and 0.50% last month
Oil: Brent Crude and the West Texas Intermediate (WTI) have increased +2.1% and +1.9% to $68.12 and $65.01, their strongest levels since May 2019 and October 2018, respectively. This comes as OPEC+ decided to extend supply cuts into April.
Baltic Dry: The Baltic Dry increased for the third consecutive session Thursday, up +0.9% to 1779, its highest level since 25th January. The index is now -4% below the four-month high seen in January 2021.
US Unemployment: There were 745k new unemployment applications in the week to 27th February, below market expectations of 750k, but higher than 736k last week.