Daily Economics Dashboard - 21 April 2021

Download an overview of key economic and financial metrics on 21 April 2021.

• Equities: In Europe, stocks are higher, with gains recorded by the CAC 40, STOXX 600 (both +0.4%) and the DAX (+0.2%). However, the FTSE 250 is flat over the morning. In Asia, the TOPIX (-2.0%), Hang Seng (-1.6%), KOSPI (-1.5%) and S&P / ASX 200 (-0.3%) were all down on close. The CSI 300 (+0.3%) was the exception, closing higher. In the US, futures for the S&P 500 and Dow Jones Industrial Average (DJIA) are both -0.1%.
• VIX: Following an +8% increase over Tuesday, the CBOE market volatility index has since decreased this morning, down -1.2% to 18.4, below its long term average of 19.9. The Euro Stoxx 50 volatility index is also lower, down -5.4% to 19.9, remaining below its long term average of 23.9.
• Bonds: The UK 10-year gilt yield softened +2bps to 0.75%, while the US 10-year treasury yield is up +1bp to 1.58% and the German 10-year bund yield is flat at -0.25%.
• Currency: Both sterling and the euro have depreciated to $1.39 and $1.20, their highest levels since early March. Currency hedging benefits for US dollar denominated investors into the UK and Eurozone are at 0.56% and 1.61% on a five year basis. This is down from their respective peaks of 0.60% and 1.78% on 13th April.
• Oil: Brent Crude and the West Texas Intermediate (WTI) have decreased -1.3% and -1.0% to $65.73 and $6182, respectively.
• Baltic Dry: The Baltic Dry increased for the fifth consecutive session on Tuesday, up +1.6% to 2472, a new 19 month peak. Prices were pushed higher yesterday by panamax rates which increased +4.8% to their highest level since the end of March. The index is now +81% above where it was at the beginning of the year and is +7% higher than the previous peak in March of 2319.
• Gold: The price of gold closed at $1,777 per troy ounce yesterday, its highest level in two months.
  UK Inflation: UK inflation was 0.7% in the 12-months to March, up from +0.4% in February, albeit below expectations of 0.8%. The largest upward contributions to inflation was increased prices for motor fuel and clothing.