Middle East & North Africa Economics Update Egyptian inflation still on course to reach double digits Egyptian inflation edged down in March, but it has still risen sharply since the end of last year and we think it will reach double digits over the coming months. The irony is that the recent spike in... 10th April 2013 · 1 min read
Commodities Update China's commodity imports fail to keep pace China’s total imports accelerated in y/y terms in March, but commodity imports remained weak. In particular, we estimate that the year-on-year decline in the volume of commodity imports in the first... 10th April 2013 · 1 min read
China Economics Update Exports slow but imports accelerate China’s exports cooled last month, correcting the surprisingly strong growth seen earlier this year. By contrast, imports beat expectations, and the increase appears to have been driven by stronger... 10th April 2013 · 1 min read
US Housing Market Chart Pack Existing housing supply posts meaningful rise The inventory of new homes for sale has been rising for six months now, and in February the supply of existing homes for sale posted its first meaningful increase in two years. Admittedly, the 3.7% m... 10th April 2013 · 1 min read
Capital Daily Treasury yields to remain low, with or without Japanese buying 10th April 2013 · 1 min read
Canada Economic Outlook Economy losing momentum A protracted housing downturn, less supportive growth in business investment and controlled government spending will curb economic growth this year. Thankfully, moderate export growth will bolster an... 9th April 2013 · 1 min read
Canada Economics Update Housing downturn dashing hopes of economic rebound The downward trend in existing home sales, building permits and housing starts suggests that shrinking residential investment will be a drag on GDP growth over the first half of this year. Accordingly... 9th April 2013 · 1 min read
Global Markets Update What might Japan’s easing mean for the rest of the world? The more ambitious policy stance adopted by the Bank of Japan has had a major impact on the yen and the relative performance of Japanese equities. But speculation that Japan’s additional monetary... 9th April 2013 · 1 min read
Africa Economics Update Which countries are set to benefit from increasing FDI? Inflows of foreign direct investment to sub-Saharan Africa have increased markedly over the past decade or so, with growth being strongest in countries that have a) a large endowment of natural... 9th April 2013 · 1 min read
UK Economics Update Fiscal squeeze temporarily eases for households Given the controversy about the tax and benefit changes introduced in recent days, the point that these measures are in aggregate putting some cash in households’ pockets has been overlooked. That... 9th April 2013 · 1 min read
UK Data Response Industrial Production & Trade (Feb.) While February’s industrial production and trade figures increased the chances that the economy has just about avoided a so-called triple-dip recession, they hardly painted a picture of strength. 9th April 2013 · 1 min read
UK Commercial Property Update Industrial yield spreads across regions will widen further The gap between industrial property yields in the South East and the Rest of the UK has risen to a level that is 50% higher than its long-run average. This could be a sign that yields in the South... 9th April 2013 · 1 min read
Europe Commercial Property Update How will FX rates influence Nordic and Swiss property values? The currency driven boost to total returns in euro terms in Nordic and Swiss property markets seen over the past three years might have a little further to go. At some point, though, we would expect... 9th April 2013 · 1 min read
UK Data Response BRC Retail Sales Monitor (Mar.) Against the recent awful weather, March’s BRC Retail Sales Monitor delivered a reasonably positive result. While the timing of Easter will have provided a boost to March’s figure, sales in Q1 as a... 9th April 2013 · 1 min read
China Data Response Consumer & Producer Prices (Mar.) The larger-than-expected fall in headline inflation in March simply reflects the usual seasonal patterns stemming from the Chinese New Year. Looking ahead, inflation is likely to pick up again soon on... 9th April 2013 · 1 min read
UK Housing Market Data Response RICS Housing Market Survey (Mar. 13) Housing market transactions have now risen to a three-year high, as the increase in mortgage approvals facilitated by the Funding for Lending Scheme feeds through. But the more recent contraction in... 9th April 2013 · 1 min read
