Nordic & Swiss Economics Update Euro-zone political risk to boost Nordic & Swiss currencies This month see the first of a number of key elections in the euro-zone this year. Investors are likely to become increasingly worried about the potential for anti-euro parties to enter government and... 6th March 2017 · 1 min read
Europe Commercial Property Update Are Stockholm CBD offices still a good pick? Robust economic growth and a limited supply pipeline will see Stockholm prime office rents record further gains on top of 2016’s surge. And although a hawkish turn from the Riksbank later in the year... 3rd March 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (Jan.) Both industrial production and services output in Sweden rose at a decent pace in January. And with surveys pointing to further gains, the Swedish economy is set for another strong quarter in Q1 and... 3rd March 2017 · 1 min read
Nordic & Swiss Economics Update Riksbank minutes strike dovish tone The minutes of the Riksbank’s February meeting were fairly dovish. With board members concerned about the krona’s appreciation and political risks in the euro-zone, we think that the Bank will wait... 1st March 2017 · 1 min read
Nordic & Swiss Data Response Finnish GDP (Q4) & National Manufacturing PMIs (Jan.) Activity surveys suggest that Q4’s slowdown in Finland will be short-lived. And February’s PMIs point to faster manufacturing growth in Switzerland, Sweden and Norway. They also imply that price... 1st March 2017 · 1 min read
Nordic & Swiss Economics Update Big movements in Icelandic markets The Icelandic króna has appreciated significantly over the past month, as the central bank reiterated its desire to reduce its foreign exchange intervention. More generally, bond yields have fallen... 28th February 2017 · 1 min read
Nordic & Swiss Data Response Swedish & Danish GDP (Q4) & Swedish Retail Sales (Jan.) Swedish growth picked up sharply in Q4, driven mainly by external demand. In Denmark, GDP growth was slower and is set to remain fairly subdued. 28th February 2017 · 1 min read
Non-Euro Europe Commercial Property Outlook Total returns prospects still strong across the region Concerns about higher inflation and potential rises in interest rates have seen bond yields rise in the last few months. Nevertheless, we think the outlook for bond yields and therefore, property... 27th February 2017 · 1 min read
Nordic & Swiss Data Response Swedish Economic Tendency Survey (Feb.) Despite edging down in February, the NIER’s Economic Tendency Indicator still points to a surge in Swedish GDP growth. And with inflation expectations rising far above the Riksbank’s target, the Bank... 24th February 2017 · 1 min read
Nordic & Swiss Chart Pack Inflationary pressure rising in Sweden, fading in Norway While inflation fell in both Sweden and Norway in January, the outlook for prices in these countries differs significantly. Consumer price inflation in Sweden fell from 1.7% to 1.4% in January. But a... 21st February 2017 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Jan.) The dip in Swedish inflation in January was mainly due to base effects and will be reversed in February. And with pay growth set to pick up after this year’s wage negotiations, underlying inflationary... 17th February 2017 · 1 min read
Nordic & Swiss Economics Update Riksbank maintains dovishness for now While the Riksbank maintained a very dovish tone today, the strength of the Swedish economy and rising inflationary pressures mean that the Bank will soon have to change its stance. We expect the repo... 15th February 2017 · 1 min read
Nordic & Swiss Central Bank Watch Riksbank to maintain dovish tone for now Recent economic data support our view that the Riksbank will raise interest rates this year. But given the recent appreciation of the krona, the Riksbank is likely to maintain a very dovish tone in... 9th February 2017 · 1 min read
Nordic & Swiss Economics Update Is the Swiss National Bank tolerating a stronger franc? The recent appreciation of the Swiss franc suggests that the Swiss National Bank (SNB) may now be willing to tolerate a (slightly) stronger currency. But we see the franc rising even further to reach... 6th February 2017 · 1 min read
Nordic & Swiss Data Response Swedish Industrial & Services Production (Dec.) Both Swedish industrial production and services output growth picked up over Q4 and are thus consistent with a rise in GDP growth. Meanwhile, this morning’s services PMI is consistent with strong... 3rd February 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Jan.) January’s PMIs add to the evidence that the Swedish economy has made a strong start to the year. They also suggest that price pressures are building in Switzerland. 1st February 2017 · 1 min read
