Daily Economics Dashboard - 20 April 2021

Download an overview of key economic and financial metrics on 20 April 2021.

• Equities: Globally, stocks are mostly lower. In Europe, losses have been recorded by the CAC 40 (-0.9%), STOXX 600 (-0.7%), FTSE 250 and DAX (both -0.3%) this morning. In Asia, the TOPIX (-1.5%), S&P / ASX 200 (-0.7%) and CSI 300 (-0.1%) all closed lower. The KOSPI (+0.7%) and Hang Seng (+0.1%) were the exception, closing higher. In the US, futures for the S&P 500 are flat, while futures for the Dow Jones Industrial Average (DJIA) are -0.1%.
• VIX: Following a +6% increase over Monday, the CBOE market volatility index has since increased further this morning, up +2.0% to 17.6. The Euro Stoxx 50 volatility index is also higher, up +6.1% to 18.3. Despite the increases this morning, both the CBOE and Euro Stoxx vix remain below their long term averages of 19.9 and 23.9.
• Bonds: The US 10-year treasury yield has softened +2bps to 1.63%, while both the UK 10-year gilt yield and German 10-year bund yield are up +1bp to 0.77% and -0.23%, respectively. The German bund yield is currently at its highest level since February.
• Currency: Both sterling and the euro have appreciated to $1.40 and $1.21, their highest levels since early March. Currency hedging benefits for US dollar denominated investors into the UK and Eurozone are at 0.56% and 1.63% on a five year basis.
• Oil: Brent Crude and the West Texas Intermediate (WTI) have both increased +1.3% to $67.90 and $64.22, respectively. Brent Crude and the WTI are both currently at their highest levels since mid March.
• UK Unemployment: UK unemployment was 4.9% in Q1 2021, which was -0.1% lower than Q4 2020, albeit +0.9% higher than Q1 2020. Employment in Q1 2020 was at 75.1%, -1.4% lower than Q1 2020 and -0.1% below the previous quarter employment.
• UK Climate Target: The British government is due to accelerate its climate change target, by announcing a new pledge to reduce carbon emissions by 78% compared to 1990 levels, by 2035. This compares to the previous target of cutting emissions by 68% by 2030. This new pledge compares to a 55% emission cut by 2030 for the EU, 65% by 2030 for China and 33% - 35% reduction target by 2030 for India.