US Housing Market Chart Pack US Housing Market Chart Pack (Aug. 2025) The struggling housing market is unlikely to benefit from the Fed rate cuts we have built into our outlook (four 25bp cuts through mid-2026). These cuts are already been priced in by markets, while... 27th August 2025 · 1 min read
Australia & New Zealand Chart Pack ANZ Chart Pack (Aug. 2025) Our ANZ Chart Pack has been updated with the latest data and our analysis of recent developments. We believe monetary easing has further to run in the Antipodes. The case for policy stimulus is clear... 27th August 2025 · 1 min read
Australia & New Zealand Rapid Response Australia Monthly CPI Indicator (July 25) 27th August 2025 · 2 mins read
Canada Economics Update Counter-tariff shift makes life easier for the Bank The unilateral reduction in tariffs by Ottawa in the US-Canada trade war raises the likelihood of the Bank of Canada resuming its easing cycle next month given that, with US tariffs unchanged, the... 26th August 2025 · 4 mins read
Global Economics Update Rise in DM services inflation not the start of a trend The recent rise in services inflation in advanced economies has been driven by temporary and economy-specific factors, rather than a general trend. The unwinding of these factors, together with weaker... 26th August 2025 · 4 mins read
US Economics Update Will Trump capture the FOMC? President Trump’s attempt to fire Fed Governor Lisa Cook looks set to go the courts, which will determine the extent and limits of the administration’s ability to influence monetary policy. It remains... 26th August 2025 · 5 mins read
US Housing Market Rapid Response US Case-Shiller/FHFA House Prices (Jun. 2025) Although we expect house prices to regain some momentum in the third quarter, the fourth consecutive monthly decline in June suggests that risks to our forecast of a 1% increase this year are clearly... 26th August 2025 · 2 mins read
US Rapid Response US Durable Goods Orders (July 2025) July’s surprisingly positive durable goods orders numbers suggests that businesses may be acclimatising to tariff policy uncertainty and upping their investment. Weak capex survey intentions means we... 26th August 2025 · 2 mins read
UK Economics Update Are interest rate cuts helping the UK economy? The Bank of England’s interest rate cuts haven’t boosted the economy much partly as they have been dampened by global developments. To deliver a bigger boost, the Bank would need to cut rates faster... 26th August 2025 · 5 mins read
Australia & New Zealand Rapid Response RBA Minutes (Aug. 2025) Although the RBA will retain its cautious approach for the time being, we believe the Bank will ultimately cut rates further than most are predicting . 26th August 2025 · 2 mins read
Japan Economics Update Ueda overstating structural change in labour market The Bank of Japan is overplaying the importance of structural changes in Japan’s labour market in explaining the post-pandemic pick-up in cost pressures. Even so, we still expect inflation to be... 26th August 2025 · 5 mins read
US Commercial Property Chart Pack US Commercial Property Chart Pack (Q3 2025) All-property capital values rose modestly by 0.1% in Q2, suggesting a market floor, with cap rates falling by 5 bps. However, we expect values to see limited upside due to the narrow spread to risk... 22nd August 2025 · 1 min read
Capital Daily What to make of the Jackson Hole euphoria in markets We doubt today’s rally in Treasuries and renewed weakness in the dollar will gather steam, despite Jerome Powell’s acknowledgement at the Jackson Hole symposium that an adjustment in the FOMC’s policy... 22nd August 2025 · 4 mins read
US Economics Weekly US Weekly: Labour demand could be even weaker In the wake of the disappointing July payrolls release, which revealed an unexpected near-stagnation in employment over the summer, Fed Chair Jerome Powell acknowledged in his Jackson Hole speech that... 22nd August 2025 · 6 mins read
Canada Economics Weekly Canada Weekly: Softer price data keeps two rate cuts on the table The inflation outlook has improved notably in recent days, with core price pressures modest in July and businesses' selling price expectations holding steady this month. While it is still not certain... 22nd August 2025 · 5 mins read
US Rapid Response Fed Chair Powell at Jackson Hole (Aug 2025) Fed Chair Jerome Powell’s speech was more dovish than markets were braced for. His conclusion that “ with policy in restrictive territory, the baseline outlook and the shifting balance of risks may... 22nd August 2025 · 2 mins read
