UK Economics Rapid Response Bank of England Policy Announcement (May 2024) While leaving interest rates at 5.25% today as widely expected, the Bank of England gave the impression that it is close to cutting interest rates and also hinted that rates may need to fall further... 9th May 2024 · 3 mins read
UK Housing Market Update RICS Residential Market Survey (April 2024) Increasing supply points to softer price growth While sales volumes were robust in April according to the RICS Residential Market Survey, stalling demand and increasing supply suggests that prices... 9th May 2024 · 2 mins read
Australia & New Zealand Economics Update Inflationary pressures in the labour market set to chill All signs are that unit labour cost growth in New Zealand will plummet in the coming quarters. Coupled with subdued domestic demand, that should feed through to lower non-tradables inflation in short... 9th May 2024 · 5 mins read
UK Economics Chart Pack UK Economics Chart Pack (May 2024) While regular private sector wage growth in February and services CPI inflation in March were both a bit higher than the Bank of England had expected, we still think that the flatlining of the economy... 8th May 2024 · 1 min read
Capital Daily The balancing act of a stronger yen for Japan’s markets We expect Japanese government bond (JGB) yields to rise a bit and the yen to come off the boil later this year, creating a headwind for equities there. 8th May 2024 · 4 mins read
US Housing Market Rapid Response US Mortgage Applications (Apr. 2024) The small rebound in mortgage demand in March proved short-lived, as higher borrowing costs caused home purchase mortgage applications to drop 2.3% m/m in April. But the 10-year Treasury yield’s... 8th May 2024 · 2 mins read
Australia & New Zealand Economics Update RBA continues to eye its so-called “narrow path” The RBA’s decision to leave rates on hold at its meeting today suggests that there is a high bar for any further tightening of monetary policy. Indeed, the Board seems keen on minimising the... 7th May 2024 · 3 mins read
Australia & New Zealand Rapid Response Reserve Bank of Australia Meeting (May 2024) 7th May 2024 · 2 mins read
US Economics Update Banks easing credit conditions amid weak demand The second-quarter Senior Loan Officer Opinion Survey revealed that, a year after the regional banking crisis, only a modest net share of banks are still tightening lending standards. 6th May 2024 · 1 min read
Canada Economics Weekly Trans Mountain expansion finally completed After 12 long years, the Trans Mountain oil pipeline expansion finally entered commercial service this week. The pipeline has the potential to raise oil exports significantly, but the full boost is... 3rd May 2024 · 5 mins read
US Economics Weekly Fundamentals point to slower wage growth Fed Chair Jerome Powell argued in his post-FOMC press conference this week that, despite the stickiness of inflation in recent months, additional interest rate hikes were still “unlikely”. We still... 3rd May 2024 · 5 mins read
Capital Daily Employment Report provides some cheer for markets Today’s favourable reaction in the US stock market to April's softer-than-expected Employment Report has coincided with renewed hopes of interest rate cuts, judging by the initial plunge in the 2-year... 3rd May 2024 · 5 mins read
US Rapid Response US ISM Services Index (Apr. 2024) The fall in the ISM services index to 49.4 in April, from 51.4 in March, suggests that services spending could slow from the 4% annualised in the first quarter. The prices paid index rebounded but... 3rd May 2024 · 2 mins read
US Rapid Response Employment Report (Apr.) April’s employment report was weaker across the board; with employment growth slowing back to the pace from last fall, the unemployment rate ticking up to 3.9% and average hourly earnings growth... 3rd May 2024 · 2 mins read
UK Economics Weekly OECD too gloomy, rebound in job vacancies fleeting Our forecast that CPI inflation will fall further than most expect explains why we think the OECD’s recent take on the UK economy is too gloomy. And while the recent rebound in job vacancies could... 3rd May 2024 · 8 mins read
