Climate Economics Monthly Climate Monthly: Politics take centre stage on both sides of the Atlantic Political opposition to the EU’s stringent climate policy has been growing, particularly given the backdrop of the bloc’s struggling industrial sector. The pressure on politicians to dilute Europe’s... 30th January 2025 · 5 mins read
US Rapid Response US GDP (Q4 2024) The 2.3% annualised gain in fourth-quarter GDP was a little weaker than the consensus estimate at 2.6%, but expectations would have come down a little after the December advance economic indicators... 30th January 2025 · 2 mins read
US Economics Update US Fed moves to the sidelines The Fed left its key policy rate unchanged at between 4.25% and 4.50% today and the accompanying statement suggests the FOMC is happy to remain on the sidelines, as it awaits more clarity on the... 29th January 2025 · 2 mins read
US Rapid Response US Fed Policy Announcement (Jan) The Fed left its key policy rate unchanged at between 4.25% and 4.50% and the accompanying statement suggests the FOMC is happy to remain on the sidelines, as it awaits more clarity on the potentially... 29th January 2025 · 2 mins read
Canada Economics Update Bank cuts by 25bp amid looming 25% tariff threat With the economy doing better recently, the Bank of Canada’s decision to cut by 25bp today might have been a closer call were it not for the looming threat of tariffs. Admittedly, the Bank hinted that... 29th January 2025 · 3 mins read
Canada Rapid Response Bank of Canada Policy Announcement (Jan. 2025.) With the economy doing better recently, the Bank of Canada’s decision to cut by 25bp today might have been a much closer call were it not for the looming threat of US tariffs. Any tariffs could hit... 29th January 2025 · 3 mins read
US Economics Focus US Focus: The inflationary impact of tariffs for all President Trump’s various tariff threats would, if implemented in full, trigger a rebound in consumer price inflation later this year to between 3% and 4%, which would make it much harder for the Fed... 28th January 2025 · 16 mins read
Equities Update The rally in bank stocks has room to run US bank stocks in the S&P 500 have generally outperformed their peers over the past year and the key factors driving this look set to persist in 2025. So, we think they will remain around the front of... 28th January 2025 · 5 mins read
Capital Daily Could the stock market rally without its leaders? We think it’s too soon to say whether this is the start of a slump for those large US firms which have benefited most from AI hype until now – but if it was, what would it mean for the S&P 500? Our... 28th January 2025 · 5 mins read
US Housing Market Rapid Response Case-Shiller/FHFA House Prices (Nov. 2024) The modest rise in house prices in November adds to the sense that the housing market is experiencing a bit of a slowdown amid weak buyer demand and gradually rising supply. We think this trend has a... 28th January 2025 · 1 min read
US Rapid Response US Durable Goods Orders (Dec. 2024) The fall in durable goods orders in December was due to the volatile transport component, whereas core and underlying capital goods orders both rose. While real underlying capital goods shipments... 28th January 2025 · 2 mins read
US Commercial Property Update NCREIF Q4 Index - Gap between US CRE appraisals and sales prices to close in 2025 The Q4 data suggest that appraisals are lagging the market correction, with transaction-based cap rates still significantly above those reported in the indices. Our expectation that this gap closes in... 27th January 2025 · 3 mins read
Capital Daily Deep trouble for the US stock market? News that Chinese start-up DeepSeek’s AI Assistant has usurped US OpenAI’s ChatGPT as the most downloaded free app on Apple’s App Store has dealt the US stock market a blow today, just a week after... 27th January 2025 · 4 mins read
US Housing Market Rapid Response US New Home Sales (Dec. 2024) The 3.6% increase in new home sales in December wraps up a solid year for newbuild demand in an otherwise stagnant housing market, with sales up nearly 3% over 2024 as a whole. We expect new home... 27th January 2025 · 2 mins read
Global Economics Update What if Trump imposes tariffs on Canada and Mexico? This Update answers some key questions about the likely implications of the US imposing 25% tariffs against Canada and Mexico. Our current forecasts are based on the assumption of a 10% universal... 27th January 2025 · 7 mins read
US Commercial Property Update Trump and US CRE: Four key client questions The first week of the new Trump administration hasn’t thrown up any huge surprises in terms of policy announcements. But there remains considerable uncertainty about the impact of those policies and... 24th January 2025 · 4 mins read
