Europe Economics Update ECB maintains a dovish stance The ECB maintained a supportive stance today, treating signs of an economic recovery with caution. While the Bank seems unlikely to resort to outright quantitative easing for now, sterilised bond... 10th June 2010 · 1 min read
Europe Commercial Property Update Germany will lag the industrial property recovery in France Despite a stronger recovery in German industrial production, the French industrial property market is performing better than Germany’s. While we suspect that the extent of that relative outperformance... 10th June 2010 · 1 min read
Europe Economics Update Bold fiscal plans are still not enough While the recent flurry of austerity measures in Germany and elsewhere goes some way towards meeting deficit reduction targets, there is considerably more to be done. And with the cuts already... 10th June 2010 · 1 min read
UK Commercial Property Update Retail may lag behind as investors shift to non-prime property Past experience suggests that the current trend for investors to target the income generating qualities of the best secondary stock is a comparatively low-risk strategy. Yet, even leaving aside any... 10th June 2010 · 1 min read
UK Economics Update Rising inflation unlikely to scare MPC into rate hikes The lower path of public borrowing projected by the Office for Budget Responsibility might seem to relieve some of the pressure for an additional fiscal tightening in next week’s Budget. But we don’t... 10th June 2010 · 1 min read
Europe Data Response Italian GDP (Q1), Italian & French Industrial Production (Apr.) Q1’s GDP figures confirmed that, for now at least, Italy is expanding at a reasonably healthy pace. But with signs that the euro-zone fiscal crisis is damaging business and consumer confidence, growth... 10th June 2010 · 1 min read
Latin America Economics Update Brazilian Central Bank still has more work to do 10th June 2010 · 1 min read
DM Markets Chart Pack Caution remains the watchword (May 10) The money markets have been showing signs of strain recently, although we are still a long way from a liquidity crisis. We don’t expect tensions to escalate. Accordingly, the downward pressure on the... 10th June 2010 · 1 min read
Asia Economics Update Korea will probably start to tighten in Q3 The Bank of Korea (BoK) left its policy rate at 2.0% today, as expected. The turmoil in the markets and the European debt crisis weighed heavily in the decision to stay on hold. However, the local... 10th June 2010 · 1 min read
China Data Response External Trade (May) Today’s confirmation that exports surged in China last month makes an early move on restarting currency reform more likely and should also dampen fears that the economy is heading into an abrupt... 10th June 2010 · 1 min read
Japan Data Response GDP (Q1 Revised) & Consumer Confidence (May) GDP growth was unexpectedly revised very slightly higher in the first quarter, keeping the Japanese economy on track to grow by at least 4% this year. Our well-above consensus forecast of 4.5% remains... 10th June 2010 · 1 min read
Asia Economics Update New Zealand to move gradually from now on The Reserve Bank (RBNZ) earlier today lifted its cash rate by 25bp to 2.75%, as expected. The local economic upswing should continue, despite the increased external risks, but the recovery will... 10th June 2010 · 1 min read
Asia Chart Pack Asia should focus on the overheating threat (Jun 10) The threats to the emerging Asia economic upswing have increased, but we believe that the problems in Europe and the turmoil in the markets will not escalate to a level which derails the region’s... 10th June 2010 · 1 min read
