UK Markets Chart Pack UK equities rally despite struggling economy The FTSE 100 has climbed to its highest level since May 2008 as expectations for global economic growth have improved. Some have suggested that a “great rotation” of funds out of safe to risky assets... 15th January 2013 · 1 min read
Global Markets Update New market forecasts (Jan. 13) We have reviewed our key market forecasts. The new numbers are presented in the table on the next page. While we still expect government bond yields in the major developed economies to remain very low... 15th January 2013 · 1 min read
Europe Economics Update The euro could rise further - unhelpfully While the euro may well strengthen further in the near term, we still expect it to weaken again later in the year as worries over the currency union resurface. In the meantime, though, the strong... 15th January 2013 · 1 min read
Commodities Update Gold set to regain premium to platinum later this year Substantial production cuts have been announced today by Anglo American Platinum, the world’s largest platinum producer. As a result, the price of platinum has risen above that of gold for the first... 15th January 2013 · 1 min read
Emerging Europe Economics Update Policy risks in Hungary to spell further forint weakness Amid the public spat over who exactly is responsible for the recent sell-off in the Hungarian forint, the point that is being overlooked is that local factors, rather than global risk appetite, now... 15th January 2013 · 1 min read
US Data Response Retail Sales & Producer Prices (Dec. 12) The apparent strength of retail sales growth over the final few months of last year suggests that the looming fiscal cliff, including the risk of higher taxes, did little to deter consumers over the... 15th January 2013 · 1 min read
US Housing Market Data Response CoreLogic House Prices (Nov. 12) House prices rose again in November, both before and after applying seasonal adjustment. Consistent price increases throughout 2012 have started the process of lifting households out of negative... 15th January 2013 · 1 min read
Europe Commercial Property Update Investor's preference for retail over office in Vienna is likely to persist Over the past year or so, investors in Austrian property appear to have switched their preference from the office to the retail sector. Against an uncertain economic outlook, we expect this preference... 15th January 2013 · 1 min read
Latin America Economics Update What to expect from Peru's central bank in 2013 The effectiveness of Peru’s benchmark interest rate as a policy instrument is constrained by high levels of foreign currency lending and concerns over the strength of the sol. Further increases in... 15th January 2013 · 1 min read
Emerging Europe Economics Update Russian Central Bank signals rate cuts The Central Bank of Russia left its benchmark interest rates on hold this morning as was widely expected. More importantly, the tone of the accompanying statement reveals that the Bank has become... 15th January 2013 · 1 min read
Middle East & North Africa Economics Update Egyptian inflation to rise - but not just because of the pound Fears that the recent fall in the Egyptian pound will lead to a sharp rise in inflation are overplayed. Instead, tax hikes and subsidy cuts are likely to have a much greater impact on headline... 15th January 2013 · 1 min read
UK Housing Market Data Response RICS Housing Market Survey (Dec. 12) The December RICS survey provided further evidence that the housing market strengthened towards the end of 2012. But it also suggested that the boost to lending activity from the FLS may be faltering. 15th January 2013 · 1 min read
Europe Data Response Euro-zone Trade Balance (Nov.) & German GDP (2012) The latest euro-zone trade data and the 2012 German GDP figures do nothing to alter the view that the euro-zone economy ended the year on a low note. 15th January 2013 · 1 min read
UK Data Response Consumer Prices & Producer Prices (Dec.) Inflation held at 2.7% in December, marking the third full year of above-target price rises. Inflation is likely to stay close to this rate in the near-term, pushing real pay down further this year... 15th January 2013 · 1 min read
Canada Economics Update Businesses investing cautiously amidst uncertainty The fourth-quarter Business Outlook Survey indicates that, while more businesses expect future sales growth to pick-up as they plan to increase investment in machinery and equipment, their modest... 15th January 2013 · 1 min read
