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.
Tags: 10-year bond yields, central bank rates, equities, foreign exchange
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