EM Markets Chart Pack Will EM bonds continue to underperform? Local currency government bonds in developed economies have typically fared much better than those in emerging economies over the past year. This is evidenced by the fact that the yield of the JP... 9th October 2014 · 1 min read
UK Markets Chart Pack Gilt yields grind lower despite UK economy’s momentum Gilt yields have continued to decline over the last month even though the UK’s economic recovery has maintained its healthy pace and overseas residents have been net sellers of gilts this year. The... 9th October 2014 · 1 min read
Europe Commercial Property Update Where next for prime office yields in Switzerland? Despite a weak outlook for the occupier markets, we expect Swiss prime office yields to mark time at their current levels for at least another 12 to 18 months as bond yields stay close to historic... 9th October 2014 · 1 min read
Africa Economics Update South African consumer spending to continue weakening The South African Reserve Bank is set to hike interest rates over the coming months to shore up the currency and counter above-target inflation, but this will hit household spending. Based on a few... 9th October 2014 · 1 min read
Global Economics Update Public finances still a major concern, despite easing austerity The IMF’s latest fiscal assessment, published yesterday, suggests that the period of acute austerity has now passed for advanced economies in aggregate. But public debt is still far too high... 9th October 2014 · 1 min read
Latin America Economics Update Rise in Mexican investment has further to run Stronger investment spending looks set to underpin faster economic growth in Mexico over the coming years. So in contrast to Brazil where weak investment has caused capacity constraints to build and... 9th October 2014 · 1 min read
UK Economics Update Low inflation outlook strengthens case for MPC caution With inflation easing, the housing market cooling and the euro-zone’s recovery fading, the majority of MPC members voting to keep Bank Rate on hold is unlikely to have been whittled down at this month... 9th October 2014 · 1 min read
US Housing Market Chart Pack Investors and cash buyers pull back The 18% m/m surge in new home sales in August was not enough to outweigh the 1.8% m/m decline in the much larger existing homes market. Strikingly, this decline was due to a weakening in demand from... 9th October 2014 · 1 min read
Middle East & North Africa Economics Update Saudi budget deficits not a disaster, but spending growth to slow Saudi Arabia’s fiscal position looks set to swing from surplus to deficit in the near-future. This would by no means be a disaster as the authorities could easily finance budget shortfalls for many... 9th October 2014 · 1 min read
Emerging Europe Economics Update Turkish government too upbeat on growth and inflation Turkey’s recently-published 2015-17 Medium-Term Programme shows that the government remains overly-optimistic on the economy’s growth prospects and still hasn’t acknowledged the strength of underlying... 9th October 2014 · 1 min read
UK Housing Market Data Response RICS Residential Market Survey (Sep.) The September RICS survey has once again indicated that demand in the housing market is cooling, particularly in London. But there is tentative evidence that activity levels and price expectations are... 9th October 2014 · 1 min read
Emerging Europe Economics Update Russian labour data suggest weaker growth a structural problem The fallout from the crisis in Ukraine and the subsequent sanctions imposed by Western governments have certainly contributed to the recent weakness of Russia’s economy. But there are ominous signs –... 9th October 2014 · 1 min read
Asia Economics Update Australia's weak labour market to weigh on consumer spending A fall in employment in September, along with revisions to previous months, has left Australia's labour market looking weak, undermining hopes that stronger consumer spending can help compensate for... 9th October 2014 · 1 min read
China Economics Update Is weak credit demand undermining monetary policy? There has been some suggestion that policymakers are struggling to stimulate lending because firms have little appetite to borrow. Credit demand does appear to have softened. But there is no evidence... 9th October 2014 · 1 min read
Japan Data Response Machinery Orders (Aug.) Even though machinery orders continued to recover in August, their current level still points to falling business investment in Q3, as does the ongoing decline in capital goods shipments. But the... 9th October 2014 · 1 min read
