Capital Daily US economy going strong despite disappointing Employment Report 5th September 2014 · 1 min read
US Data Response Employment Report (Aug.) The modest 142,000 increase in non-farm payrolls in August, which was well belowthe consensus forecast at 230,000 and the smallest gain this year, will inevitably sparkspeculation that the US recovery... 5th September 2014 · 1 min read
Global Markets Update Is there a bubble in US “high”-yield corporate bonds? Despite edging up a little over the summer, the yield of US 7-10 year B-rated corporate bonds remains close to its lowest level in at least a quarter of a century. We think that this is a bubble and... 5th September 2014 · 1 min read
Emerging Markets Economics Update Fed tightening and EM vulnerabilities: a stock-take A handful of EMs – mainly in Asia – have taken steps to reduce their external vulnerabilities in the wake of last year’s “Taper Tantrum”. But these countries are the exception rather than the rule... 5th September 2014 · 1 min read
Global Economics Chart Pack Gulf between US and euro-zone widens The US and euro-zone economies have diverged further in the past few months, as growth in the single currency area has stalled but the US recovery has stepped up a gear. Moreover, the gap between the... 5th September 2014 · 1 min read
Europe Data Response Euro-zone GDP Breakdown (Q2) & German IP (Jul.) The breakdown of euro-zone Q2 GDP was a bit more encouraging than it might have been, but hardly presented a solid platform for stronger growth ahead. 5th September 2014 · 1 min read
UK Commercial Property Data Response IPF Consensus Forecasts (Q3) Respondents to the latest IPF Consensus survey expect both rents and capital values to rise throughout the next five years. But forecasters also envisage modest rises in yields from 2016 onwards... 5th September 2014 · 1 min read
Asia Economics Weekly Property price bubbles a key risk There are signs property prices are coming off the boil in Hong Kong, Taiwan and Singapore. That said, prices in these three economies still look significantly overvalued, and a slump in prices... 5th September 2014 · 1 min read
Emerging Europe Economic Outlook Emerging Europe Economic Outlook The recovery in Emerging Europe has fizzled out in recent months and we think growth will be sluggish over the coming quarters. The crisis in Ukraine presents one headwind, particularly for Russia... 5th September 2014 · 1 min read
Japan Economics Weekly Wage growth likely to slow again Labour cash earnings expanded at the fastest pace since 1997 in July. Given recent, much slower, gains in productivity and the low likelihood of significant further tightening in the labour market, we... 5th September 2014 · 1 min read
Canada Data Response International Merchandise Trade (Jul.) The further growth in export volumes in July is encouraging, but we're still not convinced this strength will be sustained. Nevertheless, with imports increasing at a more moderate pace, the... 4th September 2014 · 1 min read
UK Housing Market Chart Pack Housing market activity eases further A lack of homes for sale is discouraging potential buyers, resulting in an easing in housing demand. And those who are looking are baulking at the prices sellers are demanding. Activity will recover... 4th September 2014 · 1 min read
Global Economics Update UK not the only country revising up its GDP figures The upward revision to its GDP figures may temporarily boost the UK’s position relative to otheradvanced economies. But other European economies and Japan will eventually make similar revisionsto... 4th September 2014 · 1 min read
Europe Economics Update ECB still inching towards QE The additional policy measures announced by the European Central Bank (ECB) today are unlikely totransform the euro-zone’s economic outlook on their own and therefore look like another step alongthe... 4th September 2014 · 1 min read
US Data Response International Trade (Jul.) & ADP (Aug.) The further decline in the trade deficit to a six-month low of $40.5bn in July, from $40.8bn the month before, suggests that net external trade will make a larger positive contribution to third... 4th September 2014 · 1 min read
