US Economics Update Hard to argue with negative outlook on US AAA credit rating Given the size of the US Federal deficit, which will be close to 10% of GDP this year, and the daunting medium-term fiscal challenges, it is hard to argue with S&P's decision to put a negative outlook... 18th April 2011 · 1 min read
Japan Economics Weekly Little room for manoeuvre in public finances The chances of an imminent fiscal crisis may be small, but public finances have limited room fo rmanoeuvre. Another shock to the economy or investor confidence could mark a tipping point in the... 18th April 2011 · 1 min read
Canada Economics Weekly Debate on corporate tax rates warms up The debate surrounding the merits of corporate tax cuts continued last week, with the Globe and Mail running a front page headline that claimed the reductions already put in place hadn't boosted... 11th April 2011 · 1 min read
US Economics Update Budget fight: Round 2 The possibility of a Federal government shutdown is back on the front pages, with concern growing that no agreement will be reached before the current continuing spending resolution expires this... 6th April 2011 · 1 min read
Canada Economics Weekly Fiscal stresses mean no big election giveaways Campaigning for the Federal election on May 2nd got well underway last week, with most of the major parties unveiling new economic policy initiatives. The bottom line is that the focus is still on... 4th April 2011 · 1 min read
Japan Economics Weekly Risk of fiscal crisis growing Some commentators have argued that Japan’s ability to sell assets or print money to service its government debt means it makes no sense to worry about a “fiscal crisis”. The chances that the Japanese... 4th April 2011 · 1 min read
Japan Economics Update How will reconstruction be financed? Japan’s economy will eventually recover from the Tohoku-Pacific Ocean earthquake as the initial disruption to activity is replaced by a surge in spending on reconstruction. However, the boost to... 29th March 2011 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Mar.) Public finances data for February revealed a familiar picture, with Spain leading the way with respect to its fiscal tightening plans while Greece continued to lag behind. 29th March 2011 · 1 min read
UK Economics Weekly OBR unwise to bank on strong demand We think that the Chancellor was probably right to stick pretty rigidly in last week’s Budget to his austerity plans. Nonetheless, we have said it before and we will say it again – the Government... 28th March 2011 · 1 min read
Japan Chart Pack Economy fragile even before disaster struck Recent economic data releases have of course been overtaken by the tragedy of the earthquake and tsunami that hit Japan on 11 th March. This edition of our monthly chart book has therefore turned out... 24th March 2011 · 1 min read
UK Economics Focus Budget 2011: Still banking on Plan A The Budget was a fairly cautious affair, with the Chancellor introducing a fiscally neutral package of measures and hence sticking closely to the existing austerity plans. Nonetheless, the Government... 23rd March 2011 · 1 min read
UK Commercial Property Update Budget 2011 - No short-term fixes for property Given the degree of overvaluation in the residential market and the fragile economic backdrop, we are not convinced of the merits, or the likely success, of the Budget’s attempt to stimulate first... 23rd March 2011 · 1 min read
UK Economics Update UK Budget Checklist 2011 This checklist is intended to help clients keep track of the important measures and numbers announced during the Chancellor’s Budget speech at 12.30pm and to provide some instant context. 23rd March 2011 · 1 min read
UK Data Response Consumer Prices & Public Finances (Feb.) February’s public finances and consumer prices numbers presented a distinctly unfavourable backdrop to tomorrow’s Budget. 22nd March 2011 · 1 min read
Middle East & North Africa Economics Update The economic implications of Saudi Arabia's latest stimulus The scale of Friday’s announced fiscal boost in Saudi Arabia will have significant medium-term economic implications for the Middle East region. Admittedly, the direct beneficiaries will be Saudi... 21st March 2011 · 1 min read
UK Economics Focus Budget 2011 Preview The Budget on March 23rd will probably include some minor measures to ease concerns over the economy and sky-high oil prices. But the Coalition Government is not likely to signal any significant... 15th March 2011 · 1 min read
