UK Economics Update Could tourism dampen the consumer recovery? Some of the recent recovery in spending by UK households has been accounted for by spending abroad. So while the official household spending figures show growth, data for domestic spending are less... 30th October 2013 · 1 min read
Capital Daily Future less bright for EM local currency government bonds 29th October 2013 · 1 min read
Commodities Update Rising supply to continue to undermine copper prices The supply of copper has risen significantly faster than demand so far this year. This trend should lastwell into next year, adding to the downward pressure on the price of the red metal. We... 29th October 2013 · 1 min read
Global Central Bank Watch QE has costs as well as benefits The realisation that the Fed is likely to go on buying assets at its current pace for longer than previously anticipated has once again focused attention on the costs of QE. The more apocalyptic... 29th October 2013 · 1 min read
US Data Response Conf. Board Consumer Confidence (Oct.) The sharp drop in the Conference Board's measure of consumer confidence to a six-month low of 71.2 in October, from 80.2, probably reflects the impact from the shutdown. (The survey period ended on... 29th October 2013 · 1 min read
US Housing Market Data Response Case-Shiller Home Prices (Aug.) The solid rise in the Case-Shiller house price index confounded expectations from some corners that price growth was set to slow further in August. But it does not rule out a slowdown in house price... 29th October 2013 · 1 min read
Emerging Europe Economics Update Hungary’s easing cycle nearing an end Hungarian policymakers cut interest rates again today, but there are a whole host of reasons to think that the easing cycle is nearing an end. The economy is recovering and core inflation is rising... 29th October 2013 · 1 min read
US Data Response Retail Sales & Producer Prices (Sep.) September’s retail sales figures suggest that consumption growth gained momentum at the end of the third quarter. And the government shutdown is unlikely to have changed the picture too much at the... 29th October 2013 · 1 min read
Africa Economics Update Fall in South African unemployment needs context South Africa’s unemployment rate fell to its lowest level since 2011 in Q3 but, while this is encouraging, it needs to be seen in a wider context. Unemployment remains above its natural rate, which... 29th October 2013 · 1 min read
UK Economics Update Monetary Indicators Monitor (Oct.) Recent strong growth in certain measures of broad money suggests that the economic recovery has plenty of momentum at present. But the continued weakness of bank lending remains a reason to be... 29th October 2013 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Oct.) On balance, the smaller peripheral economies in the euro-zone are still making inroads into their budget deficits, but there are some signs that Italy and Spain are faring a bit less well. 29th October 2013 · 1 min read
UK Commercial Property Data Response Lending to commercial property (Sep.13) Net new lending to commercial property was negative again in September. But lenders' exposure to property is now at its lowest level in a decade and the scope for this long period of deleveraging to... 29th October 2013 · 1 min read
Latin America Chart Pack Inflation eases back Having picked up in several countries in the early part of this year, inflation has slowed in most of Latin America in recent months and is now back within its target range in each of the region's... 29th October 2013 · 1 min read
UK Housing Market Data Response Mortgage Lending (Sep. 13) The number of mortgage approvals for house purchase jumped again in September, as banks recycle a steady rise in mortgage repayments to new borrowers. While still historically low, 2013 will see the... 29th October 2013 · 1 min read
UK Economics Update Household Borrowing Monitor (Sep.) Despite the revival in the housing market and the role of consumer spending in driving the rebound in the economy, the economic recovery continues to remain a relatively creditless one. But this... 29th October 2013 · 1 min read
Middle East & North Africa Economics Update Bond markets buoyed by delay to Fed “taper” Bond markets across the MENA region have rallied over the past month as it looks increasingly likely that the US Fed will delay tapering its asset purchases under QE3 until early next year. Elsewhere... 29th October 2013 · 1 min read
