Global Commercial Property Update Student housing investment set to diversify Investment in student accommodation appears to be turning a corner after several lean years. Demand fundamentals are expected to support a further recovery over the next decade, though geographic... 7th May 2026 · 4 mins read
Capital Daily US-Iran peace: fifth time the charm for markets? Financial markets have responded strongly to signs that the US-Iran conflict may end soon. We think government bonds have further to rally than most assets given how far they still are from pre-war... 6th May 2026 · 4 mins read
US Rapid Response US ISM Services Index (Apr. 2026) The unchanged level of the ISM Services Prices Paid Index at 70.7 in April is not the worst outcome, given its manufacturing counterpart surged to a four-year high of 84.6 in the same month. Even so... 5th May 2026 · 2 mins read
US Rapid Response US International Trade (Mar. 2026) The modest widening of the trade deficit in March, despite another solid rise in goods exports, was less about insatiable AI-driven demand for computer hardware than in recent months, and more about a... 5th May 2026 · 2 mins read
Canada Rapid Response Canada International Trade (Mar. 2026) The oil-price-driven improvement in Canada’s goods trade balance in March overstates the health of the export sector, with total export volumes falling despite a big rise in the volatile gold sector... 5th May 2026 · 2 mins read
Capital Daily Tech stocks versus oil, bonds versus central banks Tech stocks have continued to power ahead despite renewed concerns around the war, but we don’t think they’re completely immune to it. Meanwhile, central bank inaction could be a threat to bond... 5th May 2026 · 6 mins read
Canada Economics Weekly Bank could still thread the (narrowing) policy needle We still see scope for the Bank of Canada to stall rate hikes until early next year given the looming CUSMA renegotiation and lack of major fiscal stimulus. However, with global oil benchmarks back... 1st May 2026 · 6 mins read
US Economics Weekly Unpacking a landmark week at the Fed A landmark week in the history of the Federal Reserve concludes with interest rate expectations little changed. 1st May 2026 · 7 mins read
Capital Daily The jury remains out on the AI CapEx splurge The mixed reaction to this week’s earnings releases from four US hyperscalers was a reminder of how sensitive investors have become to the firms’ plans for capital spending (CapEx), given the huge... 1st May 2026 · 4 mins read
Global Economics Update Central banks indicate rising risk of near-term hikes We recently hosted an online Drop-In session to review the latest Fed, ECB and Bank of England decisions and what their communications imply for the future. (Recording available here.) This Update... 1st May 2026 · 6 mins read
Capital Daily Policymakers do their part, but oil prices still driving bond markets Policymakers talking (and, in Japan, acting) tough may help to shore up market confidence and buy time until a resolution to the crisis in the Gulf materialises. But financial markets remain in large... 30th April 2026 · 4 mins read
US Employment Report Preview Jobs growth to stabilise after choppy start to the year After a volatile few months, we estimate non-farm payrolls increased by a softer 55,000 in April, with the unemployment rate ticking up to 4.4%. 30th April 2026 · 3 mins read
US Rapid Response US GDP (Q1 2026) The rebound in first-quarter GDP growth was partly driven by the reversal of the earlier government shutdown drag, but final sales to private domestic purchasers (FSPFP) also expanded at a solid 2.5%... 30th April 2026 · 2 mins read
Canada Rapid Response Canada GDP (Feb. 2026) GDP growth looks to have rebounded to 1.5% annualised last quarter, in line with the projection in the Bank’s updated Monetary Policy Report (MPR). With the economic backdrop notably improved for a... 30th April 2026 · 3 mins read
US Economics Update Powell remaining on the Board makes Warsh’s difficult task even harder The FOMC’s decision to leave interest rates unchanged today, accompanied by moderately more hawkish communications, was overshadowed by Chair Jerome Powell announcing in the subsequent press... 29th April 2026 · 3 mins read
US Rapid Response US Fed Policy Announcement (Apr 2026) While leaving interest rates unchanged today, the Fed maintained its easing bias, reinforcing our view that its next move is more likely to be a cut than a hike. That said, the Fed's communications... 29th April 2026 · 2 mins read
