Canada Economics Update Canada Housing Watch (Jun. 2024) The housing market was soft in May, with sales and prices edging down, but we expect conditions to improve over the rest of the year as the Bank of Canada cuts interest rates further and mortgage... 17th June 2024 · 4 mins read
Event Europe Drop-In: French political turmoil and macro/market spillover risks 19th June 2024, 3:00PM BST Emmanuel Macron’s decision to call a snap legislative election has triggered turmoil in French politics that is spilling into its financial markets.
Canada Economics Weekly Households deleveraging only slowly The household debt-to-income ratio fell again in the first quarter, albeit because incomes continued to rise at a faster pace than debt levels. Although the aggregate situation is slowly improving... 14th June 2024 · 5 mins read
US Economics Weekly Fed split, but better data point to two rate cuts The Fed’s updated projections indicated that a slim majority of officials favour fewer than two interest rate cut this year but, in response to the soft May CPI, PPI and import price data, the markets... 14th June 2024 · 7 mins read
US Rapid Response Uni. of Michigan Consumer Sentiment (June 2024) The further decline in the University of Michigan consumer sentiment index to a seven-month low of 65.6 in June, from 69.1, suggests that households are now struggling more under the weight of higher... 14th June 2024 · 1 min read
Canada Rapid Response Canada Manufacturing Sales & Wholesale Sales (Apr. 2024) 14th June 2024 · 1 min read
UK Economics Weekly How Labour could succeed in raising housebuilding With little fiscal space to play with, the next government will have to get creative in order to deliver on its manifesto pledges. Labour’s plan to change the law so that the state receives more of... 14th June 2024 · 9 mins read
Event UK Drop-In: The General Election results – The morning after and the macro/markets outlook 5th July 2024, 9:30AM BST Will the outcome of the UK general election move the dial on the UK economic outlook? How much would a Labour government deviate from Conservative economic policy?
Japan Economics Update Bank will hike its policy rate once more in July The Bank of Japan disappointed markets today by announcing that it will only present a detailed plan for reducing its bond purchases at its July meeting. We think it will also deliver a final policy... 14th June 2024 · 3 mins read
Japan Economics Weekly Higher bond yields won’t prompt massive repatriation While 10-year JGB yields have fallen well below 1% as the BoJ today delayed the announcement of tapering plans to its July meeting, they are still around a decade-high. The ability of Japanese... 14th June 2024 · 5 mins read
Australia & New Zealand Economics Weekly RBA will look past impact of energy rebates This week the Queensland government followed in the footsteps of the Western Australian government and the Commonwealth by announcing significantly more generous energy subsidies for households. With... 14th June 2024 · 5 mins read
Japan Rapid Response Bank of Japan Meeting (Jun. 24) The Bank of Japan announced today that it will present a detailed plan for reducing its bond purchases at the upcoming meeting in July and we think it will also deliver a final policy rate hike then... 14th June 2024 · 2 mins read
BoE Watch BoE not ready to follow in the ECB’s footsteps…yet Far more interesting than the probable decision by the Bank of England to leave interest rates at 5.25% on Thursday 20th June will be any clues on how soon and how far rates will be cut. If inflation... 13th June 2024 · 6 mins read
Global Markets Update Why we think the 10-year Treasury yield will fall further We are retaining our forecast that the 10-year Treasury yield will fall to 4.0% by the end of this year. That reflects our expectation that the Fed will pursue a slightly looser conventional monetary... 13th June 2024 · 5 mins read
UK Economics Update Will the next government deliver or deviate from its manifesto? While what’s in and what’s out of the election manifestos is informative, the bigger issue is whether the next government delivers or deviates from its manifesto. This Update sketches out three... 13th June 2024 · 7 mins read
Europe Economics Update SNB to keep rates on hold for rest of the year The SNB is likely to keep rates on hold at 1.5% at its meeting next week as inflation in Q2 so far has been in line with the its forecast in March. Moreover, the latest data on wage growth were much... 13th June 2024 · 5 mins read
