Capital Daily Stock market’s recovery hasn’t left it fully healed US President Trump’s decision to pause the implementation of many of his previously announced tariffs has sent markets – especially equities – soaring, but there are some risk premia remaining that... 10th April 2025 · 4 mins read
Global Economics Rapid Response Trump folds on tariffs under market pressure Although President Donald Trump was able to resist the stock market sell-off, once the bond market began to weaken too, it was only a matter of time before he folded on his eye-wateringly high tariffs... 9th April 2025 · 2 mins read
Capital Daily More thoughts about the ongoing rout in Treasuries US Treasuries are not benefitting from market turmoil, and we suspect they will keep struggling. 9th April 2025 · 5 mins read
Canada Chart Pack Canada Chart Pack (Apr. 2025) While Canada escaped “liberation day” relatively unscathed, the imposition of US tariffs and risk of more to come will still weigh on exports, consumer confidence and investment. With immigration also... 9th April 2025 · 1 min read
US Commercial Property Update Midwest outperformance will not last More encouraging figures from the previously underperforming Midwest region suggest that it may be turning a corner. But while this may continue for several quarters more, there has not been enough... 9th April 2025 · 3 mins read
Commodities Update Gold, equity bear markets, and recessions While gold prices have edged down since “Liberation Day”, this is not unusual during a sudden equity market selloff. In fact, gold’s track record suggests that prices are likely to rise from here... 9th April 2025 · 2 mins read
Capital Daily What to make of the sudden sell-off in bonds We think the turnaround in longer-dated Treasury yields has bit further to run, if – and it’s a big if – the worst is now over for the US stock market. 8th April 2025 · 4 mins read
UK Commercial Property Update Answering key client questions from our roundtables on how the pandemic continues to shape real estate Last week we held a series of roundtable discussions with clients in our London office about how the pandemic will shape real estate into the 2030s. This note shares our answers to some of the most... 8th April 2025 · 4 mins read
US Commercial Property Apartment Metros Outlook Houston best-placed for 2025-29 apartments recovery The apartment market is on track to recover over our five-year forecast, with new supply falling back sharply, while demand remains solid. However, the size and speed of recovery will differ widely by... 7th April 2025 · 7 mins read
Canada Economics Update BoC’s surveys hold up, but already out of date The Bank of Canada’s quarterly business and consumer surveys were nowhere near as bad as we feared, but that may only be because the survey periods preceded the most recent tariff announcements... 7th April 2025 · 4 mins read
Capital Daily Trump’s medicine leaves a bitter taste for equities The carnage in global equity markets has continued after President Trump doubled down on his tariff plans, noting that “sometimes you have to take a medicine to fix something”. We still think he will... 7th April 2025 · 4 mins read
Global Economics Update Trump shock: What to expect next on tariffs Clinton adviser James Carville famously quipped that he would like to be reincarnated as the bond market but, as President Donald Trump is now finding out, the equity market can be pretty intimidating... 6th April 2025 · 3 mins read
US Economics Weekly US Weekly: Republicans need to get with the recycling program President Donald Trump’s big “Liberation Day” announcement went down badly in the markets, as fears mounted that the bigger-than-expected reciprocal tariffs would trigger a recession. The surge in... 4th April 2025 · 8 mins read
Capital Daily Taking stock of the market fall-out It’s not often that the US Employment Report is a sideshow. But that’s been the case today, as the ongoing fall-out from Donald Trump’s swingeing “reciprocal” tariffs and China’s strong response to... 4th April 2025 · 5 mins read
Canada Economics Weekly Canada Weekly: Outlook still gloomy despite tariff relief Canadian exporters escaped “Liberation Day” relatively unscathed and, thanks to more stringent measures on other economies, have even been gifted a competitive advantage in some industries by the US’... 4th April 2025 · 4 mins read
US Rapid Response US Employment Report (Mar. 2025) The bumper 228,000 rise in non-farm payrolls in March offers some welcome good news amid the escalating global trade war, showing that the labour market remains healthy despite the drag from DOGE-led... 4th April 2025 · 3 mins read
