UK Commercial Property Data Response Institutional Investment in Property (Q1 13) UK-based investing institutions continued to expand their commercial property portfolios in Q1. Historically, this has been associated with rising capital values and we remain confident that modest... 21st June 2013 · 1 min read
Japan Economics Update Monetary Indicators Monitor (May) As the Fed prepares to taper its program of quantitative easing, there are some concerns in Asia that it could trigger a messy re-run of 1994. We think these concerns are exaggerated. 21st June 2013 · 1 min read
Asia Economics Update Should Asia fear a repeat of 1994? As the Fed prepares to taper its program of quantitative easing, there are some concerns in Asia that it could trigger a messy re-run of 1994. We think these concerns are exaggerated. 21st June 2013 · 1 min read
Emerging Markets Economics Chart Pack QE tapering to have limited impact on EM growth Concerns about a tapering of the US Fed’s asset purchases under QE3 have caused a sell-off in EM financial markets, but we think the economic impact on EMs from the end of ultra-loose monetary... 21st June 2013 · 1 min read
Global Economics Update Further weakness in China, but some respite for euro-zone The so-called “flash” PMIs for the US, euro-zone and China – economies which together account for nearly half of world GDP – give us an early indication of how the global economy is performing in June... 20th June 2013 · 1 min read
Canada Economics Update Households' showing signs of borrowing fatigue Although our seasonally-adjusted measure of the household debt-to-income ratio nudged higher in the first quarter of this year, the trend appears to have stabilised. This suggests that there is even... 20th June 2013 · 1 min read
US Chart Pack Higher rates unlikely to derail recovery We doubt that the rapid rise in long-term interest rates in recent weeks will derail the economic recovery. For a start, rates are still at unusually low levels. Moreover, the primary reason why the... 20th June 2013 · 1 min read
US Housing Market Data Response Existing Home Sales (May 13) The number of existing home sales broke decisively above the five million mark in May, while the supply of existing homes for sale continued to creep upwards. 20th June 2013 · 1 min read
Emerging Europe Economics Update Russia: weak May's data to fuel stimulus debate Part of the weakness of May’s activity data in Russia can be explained by working day effects. Nonetheless, the bigger picture is that while there is some (albeit tentative) evidence that the slump in... 20th June 2013 · 1 min read
Global Markets Update New market forecasts In the light of the changing prospects for US monetary policy and recent improvements in the outlook for the advanced economies, we are revising our bond yield forecasts higher. However, we continue... 20th June 2013 · 1 min read
Global Markets Update Will the worst soon be over for emerging market equities? Emerging market equities have come under further pressure today after last night’s FOMC statement. Although the prospect of a tapering of the US central bank’s quantitative easing could continue to... 20th June 2013 · 1 min read
Europe Commercial Property Update Is it possible that Spanish property is now a good bet? Improvements in Spanish economic sentiment suggest that the recession has eased in the second quarter. Given that there is plenty of headroom for Spanish office and industrial capital values to rise... 20th June 2013 · 1 min read
UK Housing Market Update Demise of interest-only mortgages will also hold back housing demand In recent times, the sharp drop in interest-only lending has been a far less important factor holding back housing demand than lenders’ deposit requirements. But with prices still very high relative... 20th June 2013 · 1 min read
Europe Economics Update Italian public finances remain in a precarious state We doubt that the new growth measures adopted by the Italian government will have much effect on the economy and still expect the 2013 budget deficit to be well above target. Based on this and Italy’s... 20th June 2013 · 1 min read
Emerging Markets Economics Update The economic impact of Fed tapering on EMs Yesterday’s FOMC meeting cemented expectations that the Fed will start to taper its asset purchases under QE3 later this year and has weighed on EM financial markets today, but the economic impact of... 20th June 2013 · 1 min read
