Europe Economics Update Merkel wins strong mandate to stick to her guns While Angela Merkel did not win enough votes to govern alone in yesterday’s election, her strong support was a clear vindication of her domestic and international policy stance so far. She is likely... 23rd September 2013 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Sep.) September’s rise in the euro-zone’s composite PMI suggests that the bloc’s recovery continued in Q3. But there are still good reasons to worry about the economic outlook. 23rd September 2013 · 1 min read
Latin America Economics Update Argentina Activity Indicator (Aug.) Argentina’s Q2 GDP data give a misleading impression of the health of the economy. While it is true that activity has recovered following last year’s stagnation, the official figures drastically... 23rd September 2013 · 1 min read
China Data Response HSBC/Markit Flash Manufacturing PMI (Sep 13.) The continued pick-up in today’s flash PMI signals that the summer turnaround in China’s manufacturing is continuing to the end of Q3. We continue to doubt that the rebound will last. For now though... 23rd September 2013 · 1 min read
China Economics Update China’s unwelcome rebound Evidence of an economic revival over the summer has settled the nerves of the many China watchers who had been worrying about an imminent crash. Those earlier fears were probably exaggerated, but the... 23rd September 2013 · 1 min read
Canada Economics Weekly Economy far from turning corner We think the Bank of Canada Governor's recent postulation about the economy turning the corner is misplaced. The recent weakness in merchandise exports, excess capacity utilisation and manufacturing... 23rd September 2013 · 1 min read
Capital Daily German election unlikely to trigger renewed demand for safe havens 23rd September 2013 · 1 min read
US Economics Weekly Fed fails to understand that sometimes, less is more We were a little surprised by the Fed's conclusion last week that it wasn't ready to begin tapering its asset purchases. As we wrote in our Fed Watch ahead of the meeting, however, a tapering was "far... 23rd September 2013 · 1 min read
Japan Economics Weekly Who is benefitting from Abenomics? Abenomics is widely heralded as a boon to Japanese society, but the benefits are not being felt evenly. Companies are reporting healthy profits and business confidence remains strong, while the equity... 23rd September 2013 · 1 min read
Europe Economics Weekly Fed inaction brings the ECB respite, for now Last week’s surprise (to most people) decision by the US Federal Reserve not to “taper” its asset purchases has some near-term benefits for the euro-zone. But it does not eliminate the longer-term... 23rd September 2013 · 1 min read
UK Economics Weekly US Fed helps out Mr Carney With UK gilt yields unhelpfully following US Treasury yields up in recent months, it was welcome that they followed them down last week. Admittedly, with the prospect of more QE receding and the... 23rd September 2013 · 1 min read
US Economics Update Risk of Federal government shutdown can't be dismissed Congress is about to enter the critical stage of negotiations to extend the Federal government's spending authority, which will otherwise expire when the new fiscal year begins on 1st October, and, in... 20th September 2013 · 1 min read
Asia Economics Weekly India’s Reserve Bank changes tack The new governor of the Reserve Bank of India has attempted a deft trick at his first policy meeting: hiking the most closely-watched policy rate to signal his inflation fighting intentions while... 20th September 2013 · 1 min read
Commodities Update The environment looks to be winning the war on coal We expect global demand for coal to be subdued and prices to fall further over the next few years as major consuming countries, including China as well as the US, take fresh steps to reduce pollution. 20th September 2013 · 1 min read
Canada Data Response Consumer Price Index (Aug.) The increased slack in the economy kept underlying inflation under wraps in August. With economic growth likely to remain sluggish through the rest of this year and inflation expectations well... 20th September 2013 · 1 min read
Emerging Markets Economics Chart Pack Fed brings some relief to EM currencies Financial markets across the emerging world have rallied in the wake of the Fed’s decision to delay QE tapering, easing concerns that several EMs were on the cusp of currency crises. As it happens... 20th September 2013 · 1 min read
