March and First Quarter 2021 in Figures

April 1, 2021

None of central banks below changed policy interest rates during the first quarter, but 10-year sovereign debt yield recorded sharp advances. Favorable U.S. long-term interest rate differentials became even more so during March. In spite of rising long-term bond yields, equities experienced gain last quarter including in March. The U.S. and Canadian dollars strengthened last month. The steep rise in the price of oil during January and February, which has largely powered increased inflation around the world, was not extended in March, and the price of gold reversed much of its January-February drop during  March.

10-Yr Yield 03/31/21 Chg in March 1Q Change
U.S. 1.74% +34 Basis Points +83 Basis Points
Germany -0.29% -3 +28
Japan 0.08% -7 +7
U.K. 0.84% +2 +65
Canada 1.56% +21 +89
Switzerland -0.33% -7 +28
CB Policy Rate 03/31/21 Chg in March 1Q Change
Fed funds target 0.00/0.25% 0 Basis Points 0 Basis Points
ECB deposit rate -0.50% 0 0
BOJ policy rate -0.10% 0 0
BOE Bank Rate 0.75% 0 0
Swiss 3M Libor -1.25/-0.25% 0 0
FX 03/31/21 Mar Chg in $ 1Q Chg in $
EUR/USD 1.1725 +3.1% +4.2%
USD/JPY 110.75 +3.9% +7.3%
USD/CHF 0.9454 +3.9% +6.8%
GBP/USD 1.3783 +1.1% -0.8%
AUD/USD 0.7590 +1.5% +1.6%
NZD/USD 0.6982 +3.5% +3.1%
USD/CAD 1.2567 -1.2% -1.3%
USD/CNY 6.5527 +1.1% +0.3%
Equities 03/31/21 Chg in March 1Q Change
S&P 500 3973 +4.3% +6.0%
Nasdaq 13247 +0.4% +2.8%
Djia 32982 +6.6% +8.5%
Dax  15008 +8.9% +9.4%
Nikkei 29179 +0.7% +6.3%
Ftse 6714 +3.6% +3.9%
Canada TSE 18701 +3.5% +7.5%
Swiss SMI 11647 +10.7% +8.8%
Commodities 03/31/21 Chg in March 1Q Change
Oil, $ per barrel 59.16 -0.9% +21.9%
Gold, $ per ounce 1713.90 +6.6% -9.5%

Copyright Larry Greenberg 2021.  All rights reserved.  No secondary distribution without express permission.

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