US Housing Market Data Response Housing Starts (Aug.) The further fall in housing starts in August adds to other evidence, such as the recent drop in consumer confidence and fall in mortgage approvals, suggesting that demand for new homes remains close... 21st September 2011 · 1 min read
Middle East & North Africa Chart Pack The Arab World’s banks can weather the global crisis The Arab World’s banks are better prepared to face any fallout from the global sovereign debt problems than they were during the financial crisis in 2008. Back then, the region’s financial... 21st September 2011 · 1 min read
Global Markets Update The intangible aspect of stock market valuation According to the Federal Reserve’s Flow of Funds Accounts published last Friday, the market value of the equity issued by US non-financial companies at the end of H1 2011 was almost identical to the... 21st September 2011 · 1 min read
US Economics Update Monetary Indicators Monitor (Aug.) The most recent acceleration in the annual growth rates of M1 and M2 has been dramatic, but the latest moves largely reflect a rise in the precautionary demand for money. The pick-up in the growth... 21st September 2011 · 1 min read
Canada Economic Outlook Further policy stimulus increasingly likely As the outlook for global economic growth deteriorates markedly, there is a growing likelihood that more policy stimulus will eventually be required in Canada. The limited scope for further monetary... 21st September 2011 · 1 min read
Emerging Europe Economics Update Russian economy gains momentum September’s activity data suggest that Russia is heading for a strong economic performance in the second half of 2011. What’s more, with both the consumer sector and industry picking up, growth looks... 20th September 2011 · 1 min read
Emerging Europe Economics Update Should we be worried about inflation in Hungary? The outlook for inflation in Hungary is not as bad as recent developments suggest, but the plunging forint may still force the National Bank into a defensive rate hike within the next three months. 20th September 2011 · 1 min read
UK Housing Market Update Buying vs. Renting: how does the choice stack up? To judge by much of the commentary surrounding the plight of “generation rent” you might conclude that anyone who can buy should do so immediately or risk being frozen out of the market. Yet even if... 20th September 2011 · 1 min read
UK Commercial Property Update Bond yields of 2% over the medium term will support property Last week, we revised down our forecasts for 10-year government bond yields, the benchmark riskfree rate for commercial property, from 2.5% at end-2011 – and right through to end-2013 – to just 2%... 20th September 2011 · 1 min read
Middle East & North Africa Data Response UAE Consumer Prices (Aug.) A further drop in the cost of housing pushed last month’s overall consumer price inflation in the UAE to its lowest level since early last year. To add to the good news, food price inflation is also... 20th September 2011 · 1 min read
Latin America Economics Update Argentina: threat of overheating still looms large Argentina’s Q2 GDP figures reinforce our belief that the economy is overheating and poised for a sharp correction in the coming years. Official statistics continue to overstate the economy’s growth... 20th September 2011 · 1 min read
Asia Economics Weekly Asia's coming struggle with capital inflows Asian markets would of course be vulnerable to a retreat of global capital if the debt crises in Europe and the US intensified. But any reversal of flows will be temporary. Dealing effectively with... 20th September 2011 · 1 min read
Japan Economics Weekly “Operation Twist” not so pivotal for the yen The prospect of a renewed widening of the spread between two-year yields in the US and those in Japan is being cited by some as a good reason to expect the yen to weaken if the Fed implements... 20th September 2011 · 1 min read
Canada Economics Weekly Policymakers stand ready As the outlook for global economic growth deteriorates markedly, there is a growing likelihood that more policy stimulus will eventually be required in Canada. With its key short-term rate at 1.0%... 20th September 2011 · 1 min read
