Japan Data Response Labour Cash Earnings (Mar.) Wage growth picked up last month, but base pay continues to decline and incomes are not expanding fast enough to offset high inflation. While incomes may get some support from the spring wage... 30th April 2014 · 1 min read
Asia Economics Update Exports and low interest rates to drive Taiwan recovery Taiwan recorded another quarter of decent growth in Q1, helped by robust exports and private consumption. Looking ahead, the economy should continue growing at a solid pace on the back of loose... 30th April 2014 · 1 min read
Japan Data Response Industrial Production (Mar.) & Manufacturing PMI (Apr.) Industrial production did not reverse February's drop in March, and the manufacturing PMI suggests that output will fall sharply following the consumption tax hike. 30th April 2014 · 1 min read
Capital Daily Strong UK growth probably insufficient to prop up sterling 30th April 2014 · 1 min read
Canada Economics Update Low quality jobs and rising prices constrain spending February's payroll figures suggest that nominal wages and salaries growth slowed in the first quarter and discouraging job quality trends suggest that wages might not improve much in this quarter... 29th April 2014 · 1 min read
Latin America Economics Update Big fall in Brazilian real is behind us but sustained rally unlikely Having been one of worst performing EM currencies in 2013, the Brazilian real has been one of the best performers so far in 2014, prompting speculation that it will strengthen further from here. We’re... 29th April 2014 · 1 min read
US Data Response Conf. Board Consumer Confidence (Apr.) The slight drop in the Conference Board's measure of consumer confidence, to 82.3 in April from 83.9, appears to have been due to weaker labour market conditions. As this decline was trivial and... 29th April 2014 · 1 min read
Commodities Update Copper hasn't yet bottomed The unwinding of financing deals in China that use copper as collateral is set to add to the downward pressures on prices from a further slowdown in China’s economy, led by the property sector. We... 29th April 2014 · 1 min read
US Housing Market Data Response Homeownership & Vacancy Rates & Case-Shiller (Q1/Feb. 14) The increase in the share of households renting to a 19-year high in Q1, and the low supply of homes entering the rental market, look like boons for both rental value growth and multi-family... 29th April 2014 · 1 min read
Emerging Europe Economics Update National Bank of Hungary keeps its options open Having cut its benchmark interest rate earlier today, the National Bank of Hungary appears to be keeping all its options open regarding future movements in the policy rate. For what it’s worth, we... 29th April 2014 · 1 min read
Middle East & North Africa Economics Update UAE and Qatar equities rally ahead of MSCI upgrade Equity markets in the UAE and Qatar have rallied in the past month ahead of their upgrade to emerging market status by MSCI. By contrast, the Egyptian stock market has had a relatively disappointing... 29th April 2014 · 1 min read
Global Central Bank Watch Does it matter whether central banks publish minutes? A speech by Mario Draghi last week suggested that it is increasingly likely that the ECB will begin publishing the minutes of its Governing Council meetings in the near future. This would bring it... 29th April 2014 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Mar.) March’s euro-zone monetary data underlined the continued weakness of the region’s financial system and will help to maintain the pressure on the ECB to ease monetary policy further over the coming... 29th April 2014 · 1 min read
Europe Data Response Euro-zone EC Survey (Apr.) The unexpected fall in the EC’s Economic Sentiment Indicator (ESI) in April might be a warning not to expect too much from the euro-zone recovery and further highlights the risk of deflation in the... 29th April 2014 · 1 min read
UK Data Response Preliminary GDP (Q1) The provisional Q1 GDP figures confirmed that the economic recovery picked up momentum in the early months of 2014. But the combination of solid - rather than spectacular - growth and low inflation... 29th April 2014 · 1 min read
Asia Chart Pack Political developments take centre stage Political developments have taken central stage over the past month. Election season is underway in India and Indonesia. Investors are optimistic that India’s election will bring about a positive... 29th April 2014 · 1 min read
