Global Markets Update Would Chinese reserve diversification hurt the dollar? Recent data provide tentative evidence that China’s accumulation of foreign exchange reserves has significantly outpaced her net purchases of US government securities in recent months. This... 23rd June 2011 · 1 min read
UK Data Response MPC Minutes (Jun.) The minutes of June’s MPC meeting suggested that the Committee is moving even further away from a near-term interest rate rise – with more members starting to contemplate giving the economy extra... 23rd June 2011 · 1 min read
Latin America Economics Update Worrying signs from Brazil's current account The fact Brazil is spending its windfall from higher commodity prices – plus more – is good news for the global economy, but carries significant risks for the country itself. In particular, it means... 23rd June 2011 · 1 min read
Japan Chart Pack Worst over but recovery still fragile The economy weakened further at the start of the second quarter, although signs abound that a pick-up is just around the corner. Businesses are restoring production more quickly than was expected even... 23rd June 2011 · 1 min read
Capital Daily Are markets underestimating the potential fall-out from Greece? 23rd June 2011 · 1 min read
Canada Data Response Retail Sales (Apr.) April's retail sales provide more evidence of the negative effects that high energy and rising food prices are having on discretionary consumer spending. Considering that preliminary data for May's... 23rd June 2011 · 1 min read
Commodities Update Coffee prices perked up by buoyant demand Similar to many other agricultural commodities, supply problems have caused the price of coffee to more than double since the start of 2010. However, there is a clear uptrend in coffee consumption too... 22nd June 2011 · 1 min read
US Housing Market Data Response Existing Home Sales (May) Most of the 3.8% m/m fall in existing home sales in May, to a six-month low of 4.8m from 5.0m in April, was probably due to the unusually severe weather. Nevertheless, the data are still... 22nd June 2011 · 1 min read
Global Economics Update How much should we fear the fall-out from Greece? We continue to think that the markets are complacent about the potential implications of the crisis in Greece both for the rest of the euro-zone and the global economy as a whole. Greece still has the... 22nd June 2011 · 1 min read
UK Commercial Property Update Industrial sub-sector yield gap more likely to close than widen Data on tenant failure probabilities from the Fidelity Income Risk Monitor (FIRM) may help to explain why distribution warehouse yields are currently lower than standard industrial property. However... 22nd June 2011 · 1 min read
Emerging Europe Economics Update Russia: growth still decent but familiar vulnerabilities remain May’s Economic & Social Indicators report suggests that a pick-up in consumer spending and investment is offsetting a slowdown in industrial production, leaving the Russian economy on track to expand... 22nd June 2011 · 1 min read
UK Housing Market Data Response FSA Mortgage Lending Statistics (Q1) Those looking for a loosening in mortgage lending criteria will be disappointed by the latest FSA data. What’s more, the high share of mortgages at variable rates of interest may be storing up... 22nd June 2011 · 1 min read
UK Data Response Public Finances (May) & CBI Ind. Trends (Jun.) May’s public finances figures brought the clearest signs yet that the weakness of the economy is having an adverse effect on the public finances. 22nd June 2011 · 1 min read
Europe Data Response German ZEW (Jun.) June’s sharper than expected fall in the headline German ZEW index brought further signs that the German economic recovery has passed its peak. 22nd June 2011 · 1 min read
Europe Economics Update Will Ireland and Portugal roll over their debt too? The Irish and Portuguese public finances are not in as precarious a position as those of Greece, but we think that there is a strong chance that both economies will eventually have to follow in Greece... 22nd June 2011 · 1 min read
