Global Markets Update Commodity super-cycle, or bubble? The recent strength in the prices of industrial metals and oil has revived talk of a “super-cycle” for these commodities where strong demand from emerging economies drives a multi-year bull market. We... 14th October 2010 · 1 min read
Asia Economics Update Bank of Korea focused on growth, but rates will still rise The Bank of Korea (BoK) held its policy rate at 2.25% today, as expected. The economy is losing some momentum but growth should not stall, while the won is climbing and is doing some of the... 14th October 2010 · 1 min read
Emerging Europe Economics Update Hungarian fiscal efforts do not go far enough The Hungarian government last night announced a fresh set of fiscal austerity measures, which should allow it to at least come close to meeting next year’s budget deficit target of 3% of GDP. But its... 14th October 2010 · 1 min read
China Data Response NBS business conditions survey (Q3) Confidence among Chinese firms recovered in Q3 as worries about the outlook for the real estate sector faded. 14th October 2010 · 1 min read
Asia Economics Update Singapore tackles the inflation risk The currency war has yet to pull in Singapore. Data released today showed a large q/q annualised drop in Q3 GDP but the big surprise was the decision of the Monetary Authority of Singapore to tighten... 14th October 2010 · 1 min read
Europe Commercial Property Focus Brussels offices: a safe bet in uncertain times? The experience of the early 2000s was that the Brussels office market prospered in a weak macroeconomic environment. With the euro-zone economy now facing another protracted period of subtrend... 14th October 2010 · 1 min read
UK Commercial Property Focus What is the outlook for leisure property returns? Over the next four to five years, we expect leisure total returns to average about 6% per year. That is lower than the returns we expect in the office and industrial sectors (both 7% per year) and... 14th October 2010 · 1 min read
US Housing Market Chart Pack Prices start to fall back House prices have started to fall back in response to the plunge in sales seen since the homebuyer tax credit expired in April. Both the Case-Shiller and FHFA indices showed prices fell in July. (See... 13th October 2010 · 1 min read
US Economics Update Prices start to fall back (Oct 10) House prices have started to fall back in response to the plunge in sales seen since the homebuyer tax credit expired in April. Both the Case-Shiller and FHFA indices showed prices fell in July. (See... 13th October 2010 · 1 min read
Europe Economic Outlook Fiscal tightening starts to bite (Q4 2010) The European economy has recently performed relatively well despite continued fears about public debt in parts of the region. But as global demand slows, the export recovery will falter, with the euro... 13th October 2010 · 1 min read
Europe Economics Update The implications of the French strike The French strike will probably have a smaller immediate effect on economic activity than the press might have you believe. However, it is the clearest sign yet that the euro-zone’s second largest... 13th October 2010 · 1 min read
UK Markets Chart Pack Markets gear up for QE2 Growing signs that the Monetary Policy Committee stands ready to recommence quantitative easing (QE) have shaped movements in sterling markets over the last month. 13th October 2010 · 1 min read
Global Markets Update Getting to grips with TIPS The yield on 5-year US Treasury Inflation Protected Securities (TIPS) has tumbled to a record low of minus 0.5%. It could fall even further if the yield on 5-year conventional Treasuries continues to... 13th October 2010 · 1 min read
UK Housing Market Update What is happening to mortgage credit conditions? While mortgage credit conditions are improving for the most credit-worthy borrowers, secured lending criteria remain exceptionally tight for the broader market. 13th October 2010 · 1 min read
Europe Commercial Property Update Polish commercial property still offers good value, for now The relatively attractive pricing of the Polish commercial property market compared to markets in the West appears to have driven a surge in investment market activity. Looking ahead, we think that... 13th October 2010 · 1 min read
