US Housing Market Chart Pack New home sales make up for earlier rate-related losses The sharp 25.4% m/m increase in new home sales in October reversed the decline during the previous three months and left new home sales back at their level before mortgage interest rates rose. That's... 12th December 2013 · 1 min read
Europe Economics Update Slovenian stress tests boost efforts to avoid bail-out Slovenia’s new bank recapitalisation plans will help the country avoid a bail-out. But its stress test results might have worrying implications for the euro-zone’s own upcoming evaluation of banks. 12th December 2013 · 1 min read
US Data Response Retail Sales (Nov.) November’s retail sales figures suggest that the holiday shopping season began on a strong note. Real consumption growth in the fourth quarter is on course to be at least double the third quarter’s 1... 12th December 2013 · 1 min read
Africa Economics Update Rand set to weaken further next year The key development in African financial markets over the course of 2013 has been the slump in the South African rand, which has depreciated by more than 20% against the US dollar. But while most of... 12th December 2013 · 1 min read
Europe Data Response Euro-zone Industrial Production (Oct.) October’s sharp fall in euro-zone industrial production suggests that industry will make another negative contribution to GDP growth in the fourth quarter. 12th December 2013 · 1 min read
Asia Economics Update Further tightening unlikely in Indonesia Bank Indonesia (BI) today left interest rates on hold, as expected. With inflation probably having peaked, the current account deficit shrinking, and signs that the central bank is becoming less... 12th December 2013 · 1 min read
Asia Economics Update Philippines set for prolonged hold to support reconstruction The central bank in the Philippines (BSP) left interest rates on hold today, as expected. Looking ahead, we expect the BSP will keep monetary policy settings unchanged until 2015 as it looks to... 12th December 2013 · 1 min read
Middle East & North Africa Chart Pack Egyptian inflation spikes while economy struggles The surge in Egyptian inflation to 12.9% y/y last month from 10.5% y/y in October took many by surprise. We think that this rise in inflation can largely be pinned on unflattering base effects and the... 12th December 2013 · 1 min read
Global Markets Update FTSE 100 to outperform next year Developed market equities have been one of the top-performing asset classes so far this year, but the UK’s FTSE 100 index has lagged well behind its peers. We think a weaker pound and a cyclical... 12th December 2013 · 1 min read
UK Commercial Property Update Tech firms' importance to London is still increasing Although the technology, media & telecommunications sector is just one component of demand for London office space, its growth remains strong. Indeed, London now has more jobs in these “digital”... 12th December 2013 · 1 min read
Asia Economics Update New Zealand still likely to wait until Q2 to hike rates The Reserve Bank of New Zealand (RBNZ) kept its policy rate unchanged at 2.5% today. In its statement, the central bank sounded slightly more hawkish on inflation, but it still looks like it will wait... 12th December 2013 · 1 min read
Bank of Japan Watch Sticking to the course The two-day meeting of the Bank of Japan’s Policy Board, which concludes next Friday (20 th), is unlikely to result in any major policy changes, despite the recent flurry of speculation that fresh... 12th December 2013 · 1 min read
Asia Economics Update Bank of Korea in no hurry to raise rates The Bank of Korea (BoK) kept its policy rate on hold today for the seventh consecutive month. With inflationary pressures low and the economy set to stage only a gradual recovery over the next year... 12th December 2013 · 1 min read
Capital Daily Recovery in euro-zone's industrial sector to remain elusive 12th December 2013 · 1 min read
US Fed Watch Odds just favour a QE taper this month We suspect that the renewed strength of employment growth in the past few months will be just enough to persuade the Fed to begin tapering its monthly asset purchases at next week's two-day FOMC... 11th December 2013 · 1 min read
US Economics Update Budget deal would deliver much-needed fiscal stability The modest bipartisan budget deal announced late yesterday, which would boost Federal spending by roughly $63bn over the next two years while at the same time reducing deficits by a cumulative $23bn... 11th December 2013 · 1 min read
