Daily Economics Dashboard - 19 April 2021

Download an overview of key economic and financial metrics on 19 April 2021.

• Equities: Globally, stocks are mixed. In Europe, gains have been recorded by the FTSE 250 (+0.5%), CAC 40 (+0.2%), and STOXX 600 (+0.1%) this morning. However, the DAX is down -0.1%. In Asia, the CSI 300 (+2.4%) and Hang Seng (+0.5%) both closed higher, while the TOPIX closed -0.2% down and the S&P / ASX 200 and KOSPI were both flat on close. In the US, futures for the S&P 500 and Dow Jones Industrial Average (DJIA) futures are -0.1% and -0.2%, respectively.
• VIX: After decreasing -2% over Friday, the CBOE market volatility index has since increased this morning, up +4.7% to 17.1, remaining below its long term average of 19.9. The Euro Stoxx 50 volatility index has also increased, up +3.9% to 16.7, albeit remaining comfortably below its long term average of 23.9.
• Bonds: The US 10-year treasury yield has compressed -3bps to 1.56%, while the UK 10-year gilt yield is down -2bps to 0.74% and the German 10-year bund yield is -1bp lower at -0.27%.
• Currency: Sterling has appreciated to $1.39, a new two week high, while the euro is currently $1.20. Currency hedging benefits for US dollar denominated investors into the UK and Eurozone are at 0.53% and 1.62% on a five year basis.
• Oil: Brent Crude and the West Texas Intermediate (WTI) are currently $66.66 and $63.13, respectively.
• Baltic Dry: The Baltic Dry increased for the third consecutive session on Friday, up +2.7% to 2385, its strongest level since 11th September 2019. Over the week, the index increased +14.4%, its best week since 19th March. Prices were pushed higher last week by capesize and panamax rates which increased +19.3% and +17.2%, respectively.
• Global Household Savings: Globally, households have saved an extra $5.4 trillion since the COVID-19 pandemic began, in additional savings compared to the 2019 saving pattern, according to Moodys. By the end of Q1 2021, excess savings amounted to circa 6% of global GDP. It is estimated that if consumers spend a third of their excess savings, global GDP could increase an extra 2% in both 2021 and 2022. Currently, the global consumer confidence index is at its highest level since records began in 2005.