Europe Data Response Norwegian GDP (Q2) Norway’s Q2 GDP data showed that lower energy prices continued to weigh on the oil and gas sector. But the mainland economy also slowed. We suspect that this will prompt the Norges Bank to loosen... 20th August 2015 · 1 min read
Nordic & Swiss Data Response Norwegian GDP (Q2 15) Norway’s Q2 GDP data showed that lower energy prices continued to weigh on the oil and gas sector. But the mainland economy also slowed. We suspect that this will prompt the Norges Bank to loosen... 20th August 2015 · 1 min read
Canada Chart Pack Economy struggling to escape recession Since oil prices first began to fall last year, Canada’s economic performance has gone from mediocre to dismal, culminating in a mild recession in the first half of this year. With oil prices tumbling... 19th August 2015 · 1 min read
UK Economics Chart Pack Equity prices depressed by global, not UK, concerns The decline and underperformance of the FTSE 100 has not reflected building concerns about the UK’s economic outlook but rather the impact of recent events in China. The FTSE 100 is comprised to a... 19th August 2015 · 1 min read
Energy Data Response US Weekly Petroleum Status Report US oil stocks rose last week as a number of US refineries performed maintenance. But demand for products remained high, meaning stocks of gasoline fell. 19th August 2015 · 1 min read
Commodities Update Agricultural prices go into reverse After a generally positive mid-June to mid-July period, the prices of mostagricultural commodities have since gone into reverse, with many sufferingheavy falls. Indeed, six of the eleven commodities... 19th August 2015 · 1 min read
Capital Daily Renewed weakness in the yen should boost equities in Japan 19th August 2015 · 1 min read
Global Markets Update How at risk are equities in Japan to events in emerging Asia? Although the yen has stayed weak against the US dollar, it has appreciated in trade-weighted terms in response to a slump in some emerging Asian currencies. Still, the yen’s real effective exchange... 19th August 2015 · 1 min read
US Data Response Consumer Prices (Jul.) The very muted 0.1% m/m gains in both headline and core CPI in July will certainly give the Fed pause for thought in whether to raise interest rates or not at the next FOMC meeting in mid September... 19th August 2015 · 1 min read
Emerging Europe Data Response Russia Retail Sales, Investment & Industrial Production (Jul.) The raft of Russian activity data for July, released today, showed that the economy continued to contract by 4-5% y/y at the start of Q3. And the latest drop in oil prices means that the fall in... 19th August 2015 · 1 min read
Asia Economics Update Dong devaluation not part of Asian currency war Although today’s decision by the State Bank of Vietnam (SBV) to devalue the dong by a further 1% against the US dollar and widen the trading band was in part linked to China’s devaluation of the... 19th August 2015 · 1 min read
Emerging Europe Data Response Polish Ind. Production & Retail Sales (Jul.) The raft of Polish activity data for July were slightly disappointing, but we don’t think this marks the start of a more serious downturn. Indeed, it still looks like the economy was growing by around... 19th August 2015 · 1 min read
Europe Commercial Property Focus Where is the potential for office rental value growth strongest? An analysis of current office rental values relative to estimates of their equilibrium levels suggests that Madrid, Barcelona, the main German cities and Brussels offer the best medium-term growth... 19th August 2015 · 1 min read
Asia Economics Update Bombings add to Thailand’s economic and political concerns The bombings in Thailand’s capital present a new downside risk to the country’s economic outlook. Not only are the attacks a blow to the important tourism sector, they also add to concerns about... 19th August 2015 · 1 min read
Europe Economics Update Greek bailout approved, but implementation doubtful The German Parliament’s approval of the third Greek bailout should prompt payments allowing Greece to narrowly avoid default yet again. But Grexit risks have not disappeared and are likely to flare up... 19th August 2015 · 1 min read
Industrial Metals Update Fears, not facts, driving copper prices lower The recent slump in copper prices has more to do with investors’ fears about China’s future copperdemand, than with the reality of Chinese copper usage. As such, we would expect a sharp rebound... 19th August 2015 · 1 min read
