Europe Commercial Property Outlook Income returns hold the key for the next two years (Q4 10) We suspect that euro-zone commercial property yields may fall a little further by the end of this year. However, the bulk of the investment market recovery may well be behind us. Subdued economic... 6th October 2010 · 1 min read
Europe Chart Pack Recovery starting to falter The euro-zone’s economic prospects appear to have taken a turn for the worse amidst continued worries over the periphery and signs that the recovery in the core economies is starting to lose momentum... 6th October 2010 · 1 min read
UK Housing Market Update What is the outlook for affordable house-building? Affordable house-building faces significant headwinds. As well as problems of economic viability, the fiscal squeeze is already weighing on starts in the affordable housing sector. These challenges... 6th October 2010 · 1 min read
DM Markets Chart Pack Fears of currency debasement buoy the euro The strength of the euro against the dollar in September coincided with a change in investors’ perceptions about the relative outlook for unconventional monetary policy on either side of the Atlantic... 6th October 2010 · 1 min read
Emerging Europe Economics Update Slovakia: fiscal squeeze adds to headwinds facing recovery The overall state of the public finances in Slovakia is in better shape than in most of Emerging Europe. Even so, a combination of tighter fiscal policy and, more importantly, a fading recovery in... 6th October 2010 · 1 min read
China Economics Update Inflation Monitor (Sep.) Consumer price inflation is probably close to a peak. If the People’s Bank does not raise interest rates in the next few weeks (we think it won’t), it will find it increasingly hard to justify doing... 5th October 2010 · 1 min read
Europe Economics Update Risk of a Spanish double-dip continues to grow The latest composite PMI business survey figures have added to evidence that the Spanish economy may have re-entered recession. This supports our view that Spain is set for a prolonged period of... 5th October 2010 · 1 min read
Latin America Economics Update More bad news on Mexico's recovery September’s IMEF survey brought further evidence that Mexico’s recovery is starting to slow. We expect growth to dip to just 2.5% next year and interest rates to remain at their current record low of... 5th October 2010 · 1 min read
Japan Economics Update What should we make of the BoJ's latest moves? Today’s announcements of a new asset purchase scheme by the Bank of Japan (BoJ) and its symbolic lowering of the key policy rate are not game changers and the tepid market response is probably... 5th October 2010 · 1 min read
Asia Economics Update Australia's monetary policy tightening to resume soon The Reserve Bank of Australia (RBA) unexpectedly held its cash rate at 4.5% today. Nonetheless, the RBA did state that rate hikes are likely if the economy develops in line with its main-case... 5th October 2010 · 1 min read
Asia Economics Update Bank Indonesia on hold but not for much longer As expected, Bank Indonesia (BI) today held the policy rate steady at 6.5%. Monetary conditions have actually tightened in recent months given that rupiah appreciation has more than offset the fall in... 5th October 2010 · 1 min read
UK Data Response UK CIPS/Markit Report on Services (Sep.) September’s CIPS/Markit Report on Services should, for now at least, ease fears about the risk of a double-dip in the economy. But double-dip or no double-dip, the recovery appears to have a lost a... 5th October 2010 · 1 min read
UK Commercial Property Update Treat negative tone of property derivatives pricing with care The prospects for commercial property returns, while not without downside risks, are better than current derivatives pricing implies. The key problem here is that landlords, i.e. “producers” of... 5th October 2010 · 1 min read
UK Commercial Property Data Response CIPS/Markit Construction PMI (Sep.) Today’s PMI suggested that commercial property construction accelerated sharply in September, pointing to continued confidence on the part of developers about the prospects for occupier demand... 4th October 2010 · 1 min read
