Europe Commercial Property Update Do the harmonised falls in property yields in Paris and Lyon make sense? On first glance, it is striking that falls in property yields in Lyon have more or less matched those in Paris. However, with broadly similar prospects for rental value growth, at least for the retail... 2nd December 2010 · 1 min read
China Economics Update Policy normalisation already well advanced Monetary conditions are not particularly loose in China and markets may be overestimating the degree of tightening to come. We expect several increases to the required reserve ratio over the next 12... 2nd December 2010 · 1 min read
Europe Economics Update ECB does the bare minimum Anyone hoping that the European Central Bank would respond to the euro-zone debt crisis with “shock and awe” today will have been severely disappointed. The fact that it failed to respond more... 2nd December 2010 · 1 min read
Latin America Economics Update Brazilian industry still lagging behind Although Brazilian industrial production rose in month-on-month terms in October, the sector has essentially stagnated over the past six months thanks in part to the strong real. With the exchange... 2nd December 2010 · 1 min read
Global Economics Update Is the global recovery back on track? A run of improving data from the US, Europe and Emerging Asia (especially China) has raised hopes that global growth is accelerating again after a temporary slowdown over the summer. Earlier fears of... 2nd December 2010 · 1 min read
BoE Watch No change imminent Most members of the Monetary Policy Committee (MPC) are continuing to sit firmly on the proverbial fence. But while a policy change does not look imminent, we still think that the faltering economic... 2nd December 2010 · 1 min read
Europe Chart Pack Core economies shrug off debt worries The euro-zone economy has continued to recover despite the periphery’s troubles, with export growth holding up particularly well. It is too soon for the euro’s recent depreciation to have had an... 2nd December 2010 · 1 min read
Europe Data Response Euro-zone GDP Breakdown (Q3) The second estimate of euro-zone Q3 GDP provided some moderate encouragement that the economic recovery in the region is becoming a little more broad-based. But there are still good reasons to be... 2nd December 2010 · 1 min read
UK Commercial Property Data Response CIPS/Markit Construction PMI (Nov.) Commercial property remained the most active part of the construction sector in November, helping to deliver a modest rise in construction output. But whether this apparent optimism about the occupier... 2nd December 2010 · 1 min read
US Economics Update Rebound stalls The housing market recovery appears to have stalled before it even really began. Home sales fell back in October and the renewed downward trend in prices appears to have gathered pace. This is all... 2nd December 2010 · 1 min read
Bank of Canada Watch Bank may regret rate increases If there was still any doubt that the Bank of Canada would leave its key policy rate at 1% next Tuesday, the news this week that third-quarter GDP increased by only 1.0% annualised should have... 2nd December 2010 · 1 min read
Asia Economics Update Is Vietnam heading for another crisis in 2011? Yes is the answer to this question, unless policy-makers change course. A shift is needed towards targeting stability and lower inflation, rather than achieving high growth for its own sake. The good... 2nd December 2010 · 1 min read
US Data Response ISM Manufacturing Index (Nov.) The resilience of the ISM manufacturing index and the improvement in the ADP employment survey together suggest that the economy is starting to emerge from its summer soft patch. Unfortunately, there... 2nd December 2010 · 1 min read
US Housing Market Chart Pack Rebound stalls The housing market recovery appears to have stalled before it even really began. Home sales fell back in October and the renewed downward trend in prices appears to have gathered pace. This is all... 1st December 2010 · 1 min read
Asia Economics Update Asia's industrial slowdown is bottoming out The November manufacturing sector PMIs in India, Taiwan, and Korea, which were published today, all climbed relative to October. Strong intra-regional trade and the pick-up in domestic demand are... 1st December 2010 · 1 min read
