US Housing Market Data Response Mortgage Applications (Mar.) Weak data for March show that the mortgage market continues to stagnate. However, although refinancing activity will fade as interest rates rise, the conditions are in place for stronger home purchase... 2nd April 2015 · 1 min read
Africa Economics Update Nigeria: Political triumph, but economic challenges ahead It is difficult to overstate the importance of Nigeria’s recent election, which is setting up Africa’s most populous country and largest economy for its first ever democratic transition of power... 2nd April 2015 · 1 min read
Africa Data Response South Africa Manufacturing PMI (Mar.) Last month’s South African manufacturing PMI provides further evidence that the rebound in growth seen at the end of 2014 was temporary and that the economy struggled once again in the first quarter... 2nd April 2015 · 1 min read
UK Data Response Markit/CIPS Report on Manuf. (Mar.) & Productivity (Q4) March’s UK CIPS/Markit report on manufacturing added to recent survey evidence suggesting that the sector’s recovery is picking up pace. 2nd April 2015 · 1 min read
Emerging Europe Data Response Manufacturing PMIs (Mar.) March’s manufacturing PMIs in Emerging Europe were something of a mixed bag, with the figures providing further evidence that the Turkish and Russian economies weakened, although in the latter... 2nd April 2015 · 1 min read
Asia Data Response Manufacturing PMIs (Mar.) The PMIs for Emerging Asia fell back in March, underlining the fragility of the region's manufacturing recovery. Indeed, in the two economies where the PMIs most closely track the hard data... 2nd April 2015 · 1 min read
China Data Response Manufacturing PMIs (Mar.) Today's PMI readings suggests that manufacturing conditions, among large firms at least, have held up better than expected. But this doesn’t do away with the need for more policy support to prevent... 2nd April 2015 · 1 min read
Japan Data Response Tankan (Q1) The small rise in today’s Tankan index for all industries suggests that economic activity remained sluggish last quarter. 2nd April 2015 · 1 min read
Canada Data Response GDP by Industry (Jan.) Although the 0.1% m/m decline in January's GDP was more mild than most expected, the first signs of a slump in oil and gas drilling points to more weakness ahead. As things stand now, we estimate the... 1st April 2015 · 1 min read
Global Markets Update Will the ECB’s QE provide more fuel for euro-zone bonds? While the anticipation and launch of looser unconventional monetary policy in the euro-zone appears to have depressed the yields of bonds issued by the region’s more troubled governments, the boost... 1st April 2015 · 1 min read
Australia & New Zealand Economics Update What does China’s PMI mean for Australia? Although China’s PMI is a relatively poor indicator of the near-term outlook for Australia’s exports, it does tell us how demand in China is influencing the prices of Australia’s key commodity exports... 1st April 2015 · 1 min read
Global Markets Update Markets still under-pricing “Grexit” risks The latest surveys continue to suggest that only a minority of investors expect Greece to leave the euro within the next twelve months. Admittedly, the proportion is still significant, which shows... 1st April 2015 · 1 min read
Europe Chart Pack Consumers drive the recovery The euro-zone economic recovery has gained some pace thanks to a pick-up in consumer spending growth. The annual growth rate of retail sales volumes rose to near a ten-year high in January, due partly... 1st April 2015 · 1 min read
Latin America Economics Update Currency rout rules out further policy easing Currencies across Latin America have continued to weaken against the dollar over the past month. Concerns that this could trigger a spate of crises in the region seem overdone. However, one... 1st April 2015 · 1 min read
Global Economics Focus Does QE work? The launch of “full blown” quantitative easing by the ECB this year has been greeted enthusiastically by financial markets. However, the global track record of QE since it was first adopted by the... 1st April 2015 · 1 min read
Capital Daily What role has the ECB’s QE played in driving down credit spreads? 1st April 2015 · 1 min read
