UK Commercial Property Update More evidence that property yields have found a floor In our view, there is little reason to think that over the coming quarters commercial property capital values will continue to see yield-driven increases. Indeed, one general theme running through the... 25th August 2011 · 1 min read
Europe Data Response German Ifo Survey (Aug.) August’s drop in the Ifo measure of business confidence added to the growing evidence that the German economic recovery has faltered. 25th August 2011 · 1 min read
Emerging Europe Chart Pack Growth fears back with a bang Growth clouds are gathering over Emerging Europe. Leading indicators, such the manufacturing PMIs, have weakened across the board, growth in key export markets (notably Germany) is cooling and Q2 GDP... 25th August 2011 · 1 min read
US Chart Pack Slowdown becomes more sinister The economic slowdown appears to have developed into something more sustained and perhaps even more sinister. The recent plunge in equity prices, the possibility that jobs growth will flounder and a... 25th August 2011 · 1 min read
US Housing Market Data Response New Home Sales (Jul.) The 0.7% m/m decline in new home sales in July built on the downward trend of the previous six months and highlights just how fragile the housing market remains five years after boom first turned to... 24th August 2011 · 1 min read
Global Markets Update What would QE3 mean for the markets? On Friday, Ben Bernanke will discuss the prospects for the US economy at the Federal Reserve Bank of Kansas City’s annual economic symposium in Jackson Hole. The Fed Chairman used the 2010 symposium... 24th August 2011 · 1 min read
Europe Commercial Property Chart Pack Euro-zone property investment market set to weaken Q2’s sharp slowdown in GDP growth in the euro-zone’s so-called “core” economies is a worrying sign that investor sentiment across the region as a whole could fall sharply in the near term. If that is... 24th August 2011 · 1 min read
Emerging Europe Economics Update Odds on Turkish recession start to shorten Turkish policymakers left interest rates unchanged today, but hinted that further policy loosening may be on the way. Yet even if additional stimulus is ultimately justified by a renewed downturn in... 24th August 2011 · 1 min read
Canada Data Response Retail Sales (Jun.) June's rebound in retail sales was driven by sharply higher auto sales, thanks to earlier-than-normal and more generous price incentives. Since then, however, auto sales have fallen back and other... 24th August 2011 · 1 min read
China Chart Pack Renminbi spurt revives talk of currency reform The renminbi has retreated after gaining 0.6% against the dollar in two days earlier in August, damping hopes that faster movement would be sustained in the months to come. But the unusually-abrupt... 24th August 2011 · 1 min read
UK Commercial Property Chart Pack All-property capital values on track for modest gain in 2011 All-property initial yields were unchanged in July, at 6.28%. All-property capital values have risen by 1% to 2% since the start of the year and, reflecting the near-term prospects of both flat rents... 24th August 2011 · 1 min read
Japan Chart Pack Turbulent times in the markets Signs of economic recovery in Japan were overshadowed by a flight from risk in global financial markets which caused sharp movements in equity prices and bond yields. The continued strength of the yen... 24th August 2011 · 1 min read
Commodities Update Any support from China to prove temporary The stabilisation in China’s economy signalled by the flash PMI for August, along with (surely premature) hopes of additional monetary stimulus in the US, is providing some temporary support for... 24th August 2011 · 1 min read
Europe Data Response Euro-zone Flash PMIs & German ZEW Survey (Aug.) August’s first business and investor surveys suggest that activity in the euro-zone is stagnating at best. With Germany showing a particularly marked deterioration lately, the region’s strongest... 24th August 2011 · 1 min read
China Data Response HSBC/Markit Flash PMI (Aug.) Today’s flash manufacturing PMI estimate for August from HSBC/Markit suggests that the economy remains weak but that growth is at least stabilising. 24th August 2011 · 1 min read
