Europe Commercial Property Update Is it too late to stock up on Stockholm offices? Solid but slowing rates of employment growth in Sweden will provide continued impetus for Stockholm office rents. This will keep Stockholm towards the top of the pack in our total return rankings for... 2nd November 2017 · 1 min read
Nordic & Swiss Economics Update Iceland’s election result reduces chance of fiscal boost At least four parties will be required to form a majority government following Iceland’s election, so coalition negotiations are set to take a number of months. As the left-wing parties performed... 1st November 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Oct.) October’s Swiss, Swedish and Norwegian manufacturing PMIs are consistent with strong growth in industrial output. But only in Sweden do we expect this to put sustained upward pressure on inflation. 1st November 2017 · 1 min read
Nordic & Swiss Economics Update Central bank actions push bond yields down In October, a combination of rising bond yields in the US and lower bond yields at home pushed Nordic and Swiss currencies down against the dollar. Weaker exchange rates, as well as decent economic... 30th October 2017 · 1 min read
Nordic & Swiss Data Response Sweden Econ. Tend. Survey (Oct.) & Retail Sales (Sep.) While the Swedish Economic Tendency Indicator edged down in October, the sharp rise in the consumer confidence index means that the survey now paints a more balanced picture of the economy. And with... 27th October 2017 · 1 min read
Nordic & Swiss Economics Update Divergent outlooks for Riksbank & Norges Bank policy While both the Riksbank and the Norges Bank kept policy unchanged today, the outlooks for monetary policy in the two countries are very different. We think that policy in Sweden will be tightened... 26th October 2017 · 1 min read
Nordic & Swiss Economic Outlook Riksbank to move ahead of the pack Economic prospects for the Nordic and Swiss economies are fairly bright. Although Switzerland had a disappointing start to the year in terms of GDP growth, the surveys are universally positive about... 25th October 2017 · 1 min read
Nordic & Swiss Central Bank Watch Riksbank on hold ahead of ECB The Riksbank is unlikely to shift its policy stance until it sees firmer signals of the outlook for policy in the euro-zone. So despite above-target inflation in Sweden, we do not expect the Riksbank... 19th October 2017 · 1 min read
Nordic & Swiss Chart Pack Inflation pressures weak apart from in Sweden The inflation data for September suggest that underlying price pressures remained subdued in most of the Nordic and Swiss countries, apart from Sweden. 13th October 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Sep.) Inflation remained above the Riksbank’s target in September and, with the economy performing strongly, domestic price pressures will continue to build. We therefore expect the Riksbank to start... 12th October 2017 · 1 min read
Nordic & Swiss Economics Update How will the SNB respond to ECB tapering? The Swiss National Bank will surely welcome the likely announcement later this month by the European Central Bank that it will wind up its asset purchase programme next year. This will probably help... 5th October 2017 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Sep.) & Swedish Industrial Prod. (Aug.) The rise in Swiss headline inflation in September will be welcomed by the Swiss National Bank, but subdued price pressures mean we expect the SNB to keep rates on hold until 2020. Elsewhere, Swedish... 5th October 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Sep.) September’s Swiss and Swedish manufacturing PMIs both rose to high levels. But while fairly strong growth is unlikely to push inflation up in Switzerland, price pressures are mounting in Sweden. 2nd October 2017 · 1 min read
Nordic & Swiss Data Response Sweden Economic Tendency Survey (Sep.) In September a sharp rise in manufacturing sentiment drove the Swedish Economic Tendency Indicator to its highest since 2011. With the growth outlook strong and inflation expectations rebounding, we... 27th September 2017 · 1 min read
Nordic & Swiss Economics Update Minutes show doves still rule the Riksbank roost Today’s Riksbank minutes suggest that at least two of the six Board members would support an extension of the Riksbank’s QE programme beyond the current December end date. But given our forecast for... 21st September 2017 · 1 min read
Nordic & Swiss Chart Pack Q2 GDP data a mixed bag, but timelier data look strong The Q2 GDP data for the Nordic and Swiss economies were a mixed bag, but more timely indicators point to a strong second half of the year. 13th September 2017 · 1 min read
