Europe Commercial Property Update Will Hungary’s problems undermine other CEE property markets? Fears that the recent sell-off in Hungarian assets might spread to commercial property markets across CEE are probably overdone. But in reality it will be hard to distinguish contagion effects from... 17th January 2012 · 1 min read
Capital Daily Euro-zone crisis still a long way from any sort of resolution 17th January 2012 · 1 min read
Latin America Economics Update Peru: further policy stimulus on the cards as growth eases Data released today provided further evidence of a moderation in Peru’s economic activity in late-2011. Going forward, growth is likely to slow further, but ample space for policy stimulus will... 16th January 2012 · 1 min read
Commodities Update Saudi comments point to lower oil prices The publication of OPEC’s monthly oil market report today has been overshadowed by two comments from Saudi Oil Minister Ali al-Naimi. First, Mr al-Naimi confirmed that Saudi output could be increased... 16th January 2012 · 1 min read
Global Economic Outlook Farewell to the euro The euro-zone is slipping into a recession which we expect to be deep and prolonged and to result in the break-up of the single currency area. This will be a major drag on other European economies... 16th January 2012 · 1 min read
Latin America Economics Update Argentina on a road to nowhere with protectionist policies Although a flurry of protectionist policies may provide some temporary relief from strains in Argentina’s balance of payments, these measures will ultimately prove self-defeating. The problem is that... 16th January 2012 · 1 min read
Japan Economics Update Rebound in orders doesn’t herald rising capex The rebound in core machinery orders in November reduces but does not extinguish our concerns that the recent upward trend in orders has come to an end. The economic outlook is not conducive to... 16th January 2012 · 1 min read
Asia Economics Update India’s headline inflation falls but rate cut unlikely before March Data released today show a big drop in headline inflation, to 7.5% y/y in December. But the key measure of core inflation fell only slightly. Consequently, the Reserve Bank of India is likely to wait... 16th January 2012 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Dec.) Saudi Arabia’s headline inflation edged up slightly in December as a rise in core inflation (non-food prices) helped to offset a drop in food inflation. 16th January 2012 · 1 min read
UK Commercial Property Update Further bad news for retail occupier demand and rents Tesco’s plan to scale back its new-store expansion won’t have any direct impact on existing occupier demand for retail property. But the decision is symptomatic of wider weakness in consumer spending... 16th January 2012 · 1 min read
Asia Economics Weekly Bank of Korea to cut by mid-year The Bank of Korea (BoK) has become increasingly worried about the growth outlook, but lingering inflation concerns are dissuading the central bank from loosening policy. We believe that inflation is... 16th January 2012 · 1 min read
Canada Economics Weekly Resurgent housing investment cannot be sustained The recent strength in housing activity indicates that housing investment has made a resurgence and is still contributing strongly to GDP growth. Against a bleak global economic backdrop, this... 16th January 2012 · 1 min read
Japan Economics Weekly Edging closer to a tipping point The FY2012 budget has increased our concerns that a tipping point in Japan’s public finances is getting closer. The proposed increase in the consumption tax to 10% would not be enough to put the... 16th January 2012 · 1 min read
US Economics Weekly US economic outlook remains modest at best The recent run of stronger economic data has led to speculation that the US economy could be poised for a good 2012 after all. This is a remarkable turnaround from August last year when speculation... 16th January 2012 · 1 min read
Europe Economics Weekly Some glimmers of hope Last week’s news on the euro-zone continued the slightly more positive tone of late. Germany and France reiterated their commitment to a new fiscal compact, Spanish and Italian bond auctions were... 16th January 2012 · 1 min read
