Scandinavia & Switzerland Commercial Property Chart Book Scandinavia & Switzerland: Yield surge cools As in the euro-zone, the rise in prime property yields in Scandinavia slowed sharply in Q1 after the surge in H2 2022. Along with decent gains in rents, where Oslo offices and industrial saw the... 26th May 2023 · 6 mins read
Global Economics Update QT effects dwarfed by influence of past rate hikes Any impact of QT has so far been modest and swamped by the effects of higher policy rates. Asset disposals might put some upward pressure on yields in the euro-zone in the near term, but the process... 18th May 2023 · 5 mins read
Global Economics Update When will interest rates start to fall? Inflation is now on a downward trend and interest rates are at, or very close to, a peak. But central banks will only cut interest rates once there are clearer signs that underlying price pressures... 17th May 2023 · 4 mins read
Europe Commercial Property Update Sweden's property credit crunch intensifies The recent downgrading of Swedish property company SBB’s credit rating to “junk” and the ensuing market fallout have highlighted financing fragilities in the Swedish property market. But, while SBB is... 11th May 2023 · 4 mins read
Europe Commercial Property Update Resilient Stockholm office rents will falter before long Although rent growth has been resilient, as the Swedish economy enters recession and employment contracts, we think the recent slowdown in Stockholm office occupier demand will persist. And with new... 5th May 2023 · 3 mins read
Nordic & Swiss Economics Weekly Sweden struggling, Norges Bank hiking Business surveys published this week suggest that Sweden's economy began Q2 on the back foot and is not seeing the increase in services sector activity that is taking place in the euro-zone. We still... 5th May 2023 · 5 mins read
Nordic & Swiss Economics Weekly Riksbank’s dovish hike, Credit Suisse Q1 results Credit Suisse's Q1 results revealed the scale of the crisis that led to its demise, with CHF67bn of deposit outflows during the quarter. The quantum of SNB lending to Credit Suisse during the quarter... 28th April 2023 · 6 mins read
Nordic & Swiss Data Response Sweden GDP Indicator (Q1) News that the Swedish economy expanded slightly in Q1, and thereby narrowly avoided a recession, adds to the evidence that economic activity in Europe as a whole has held up well in Q1. That said, we... 27th April 2023 · 2 mins read
Nordic & Swiss Economics Update Riksbank shows the way with 50bp With the ECB poised to raise rates next Thursday, the Riksbank has got its retaliation in early, hiking its key rate by 50bp. The statement indicates that policymakers expect to raise rates by another... 26th April 2023 · 3 mins read
Nordic & Swiss Economics Weekly Krona versus Krone, Switzerland outperforming We expect the Norwegian krone and the Swedish Krone to appreciate against the euro this year. The krone looks significantly undervalued to us, whereas the krona is likely to benefit from the Riksbank... 21st April 2023 · 6 mins read
Nordic & Swiss Central Bank Watch Riksbank beating the ECB to 3.5% The Riksbank will raise its key policy rate by another 50bp next week, bringing it to 3.5%, and we think a final 50bp increase is most likely in June. Policymakers sounded pretty hawkish at the... 19th April 2023 · 3 mins read
Nordic & Swiss Economic Outlook Tightening cycle not yet over The outlook for economic activity in the Nordics and Switzerland remains poor. GDP is already contracting sharply in Sweden and we think Norway and Switzerland will only narrowly avoid recessions... 14th April 2023 · 12 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Mar.) The fall in Sweden’s measure of core inflation to 8.9% in March suggests that it may now be passed its peak. But it is still much higher than the Riksbank had anticipated at its February meeting and... 14th April 2023 · 2 mins read
