Australia & New Zealand Rapid Response RBA Minutes (May 2025) Although the RBA's easing cycle has further to run, it is unlikely to cut rates as far as markets are anticipating. 3rd June 2025 · 2 mins read
Capital Daily US small caps can't catch a break To some extent, the persistent underperformance of US small-cap (SC) equities probably reflects lingering concerns about the effects of Donald Trump’s policies on the economy. But even if fears of a... 2nd June 2025 · 4 mins read
UK Economics Update UK civil service job cuts won't dent labour market much The suggestion that the Chancellor may be considering cutting 50,000 civil service job cuts wouldn’t weigh on employment growth much over the next few years. Only if the government were to cut public... 2nd June 2025 · 4 mins read
UK Economics Rapid Response UK Money & Lending (Apr. 2025) April’s money and lending figures provided little indication that the US trade war and the deteriorating jobs market prevented consumers’ willingness to borrow and spend from rising. This supports our... 2nd June 2025 · 3 mins read
UK Housing Market Rapid Response UK Nationwide House Prices (May 2025) May’s 0.5% m/m increase in Nationwide house prices adds to the evidence that the recent soft patch for the housing market was a temporary blip rather than a longer-lasting downturn as a result of the... 2nd June 2025 · 3 mins read
Australia & New Zealand Economics Update Australia in store for a tepid housing rebound Australian house prices edged up a notch in May, and leading indicators suggest they will gather further momentum over the coming months. However, with debt-servicing costs set to remain onerous... 2nd June 2025 · 3 mins read
US Economics Weekly US Weekly: Court rulings leave trade policy in disarray Although this week’s court ruling – that President Trump doesn’t have the “unbounded authority” to impose universal tariffs on other countries – has been temporarily stayed, there is a fair chance... 30th May 2025 · 7 mins read
UK Economics Weekly UK Weekly: Evidence pointing to a weak Q2 UK GDP growth will almost certainly slow in Q2 after Q1’s bumper rise, irrespective of the outcome of the US tariff legal saga. Falls in business investment and exports will probably offset rises in... 30th May 2025 · 4 mins read
Canada Economics Weekly Canada Weekly: BoC to weigh up possibility of tariff reprieve The removal of the 25% fentanyl-related US tariffs would not transform the outlook for the Canadian economy, which would still suffer due to the impact of other tariffs and general uncertainty over... 30th May 2025 · 6 mins read
US Commercial Property Chart Pack US Commercial Property Chart Pack (Q2 2025) All-property capital values edged up by 0.1% in Q1, marking the first increase since mid-2022. Meanwhile, appraisal-based cap rates were flat after compressing by a slight margin in Q4 2024. We still... 30th May 2025 · 1 min read
Canada Rapid Response Canada GDP (Q1 2025) Despite the upside surprise to first-quarter GDP growth, the contraction in domestic demand means we are sticking to our view that the Bank of Canada will cut interest rates again next week. 30th May 2025 · 2 mins read
Europe Economics Focus Europe in a changing world Europe is being buffeted by geopolitical and geoeconomic shifts but, like all things in Europe, the subsequent changes are likely to be slow and deliberate. Europe will “derisk” from China in... 30th May 2025 · 23 mins read
Japan Economics Weekly BoJ’s pessimism is facing reality check Firms’ output forecasts suggest that Japanese exporters are benefitting from US demand shifting away from China. And with inflation running miles ahead of the Bank of Japan’s overly pessimistic... 30th May 2025 · 5 mins read
Australia & New Zealand Economics Weekly ANZ Weekly: Weak economy will force RBNZ's hand When it cut rates by 25bp this week, the RBNZ indicated that it would take a somewhat cautious approach to policy setting going forward. However, the recent flow of data suggest that New Zealand... 30th May 2025 · 6 mins read
Australia & New Zealand Rapid Response Australia Retail Sales (Apr. 2025) Despite the ongoing slump in consumer spending, we’re not convinced the RBA will cut rates as aggressively as markets are anticipating. 30th May 2025 · 2 mins read
Japan Rapid Response Japan Industrial Production & Retail Sales (Apr. 25) If anything, the April activity data suggest that Japan’s economy is benefitting from trade tensions, which bodes well for our view that the Bank of Japan will hike rates again soon. 30th May 2025 · 2 mins read
