Europe Commercial Property Update French logistics market to hold up better than office or retail The post-credit crunch underperformance by logistics capital values in France relative to the office and retail sectors may leave scope for a period of outperformance. Yet this morning’s business... 25th June 2013 · 1 min read
US Housing Market Data Response Case-Shiller Prices & New Home Sales (Apr/May) The Case-Shiller house price index posted one of its largest month-on-month rises so far in the recovery in April, and new home sales registered a solid increase in May. But while sales activity can... 25th June 2013 · 1 min read
Global Economics Update Monetary conditions still very loose Government and corporate bond yields in most advanced economies increased sharply in the past few weeks in response to statements by the Fed which suggested that it will scale back its asset purchases... 25th June 2013 · 1 min read
Global Markets Update Can bond yields elsewhere decouple from the US? There has not been much differentiation between bond markets during the recent US-led sell-off. But over time we expect local economic conditions and domestic monetary policy to play a larger role... 25th June 2013 · 1 min read
US Data Response Durable Goods (May) While the 3.6% m/m jump in durable goods orders in May was mainly due to a 51% m/m rebound in volatile commercial aircraft orders, the rest of the report was relatively upbeat. Even if second-quarter... 25th June 2013 · 1 min read
Emerging Europe Economics Update Hungarian and Polish easing cycles nearing an end Policymakers in Hungary and Poland look set to cut interest rates at least once more, probably next month, but we think easing cycles are nearing an end in both countries. 25th June 2013 · 1 min read
Africa Economics Update Markets get the jitters Signals from the US Fed that it intends to scale back its asset-purchasing programme later this year have had a notable impact on most sub-Saharan African markets over the past month. But while the... 25th June 2013 · 1 min read
UK Housing Market Data Response BBA Mortgage Lending (May. 13) The BBA reported a strong rise in mortgage approvals in May, helped by Government interventions. But this improvement comes from a low base, and in aggregate the major banks are still withdrawing... 25th June 2013 · 1 min read
Japan Economics Update Small firms shrug off market volatility The improvement in small business confidence in June shows that “Abenomics” is continuing to deliver real benefits despite the volatility in the financial markets. However, the detail of the Shoko... 25th June 2013 · 1 min read
UK Commercial Property Chart Pack Capital values at a turning point Initial yields were broadly stable again in May, but once you take the figures down to two decimal places, all-property capital values rose. The gain of 0.01%m/m was obviously miniscule, but it was... 25th June 2013 · 1 min read
Capital Daily No reason to expect a “bloodbath” in the US Treasury market 25th June 2013 · 1 min read
Canada Economics Update Canadian dollar's descent likely to continue The Canadian dollar is likely to trend lower against the US dollar this year and next. While further declines in commodity prices are likely to play a minor role, we anticipate narrowing interest rate... 24th June 2013 · 1 min read
US Economics Update Could a '94 style bond bloodbath derail the recovery? The recent surge in Treasury yields is unlikely to develop into a 1994-style bond collapse, principally because the outlook for monetary policy is completely different. Furthermore, for those worried... 24th June 2013 · 1 min read
Global Markets Update Bond market lessons from the early 1950s The recent surge in long-term US Treasury yields will certainly have raised a few eyebrows. However, if the Fed’s forthcoming approach to unwinding unconventional monetary policy stimulus bears any... 24th June 2013 · 1 min read
US Housing Market Update The pace of house price gains is set to slow We expect the pace of house price gains to slow later this year and decelerate further in 2014. This will not signal the end of the US housing recovery, but a new phase in which house price growth is... 24th June 2013 · 1 min read
