Emerging Europe Economics Update Romania: interest rates cut again, but recovery to disappoint This morning’s decision by the National Bank of Romania (NBR) to cut interest rates by 50bps to 7% is testament to the more stable political outlook that has emerged since the end of last year. With... 3rd February 2010 · 1 min read
Europe Economics Update EC’s endorsement won’t fully relieve Greek worries The European Commission’s endorsement of the Greek Government’s plan to get its public finances under control is unlikely to relieve market concerns over Greece’s position altogether. 3rd February 2010 · 1 min read
UK Housing Market Chart Pack Weak economy will not support sustained house price recovery (Feb 10) 3rd February 2010 · 1 min read
Europe Data Response Euro-zone Retail Sales (Dec.) & Final PMI (Jan.) December’s euro-zone retail sales figures suggested that total consumer spending fell in Q4, adding to signs that the overall recovery lost pace. What’s more, January’s final PMI survey pointed to... 3rd February 2010 · 1 min read
UK Data Response UK CIPS/Markit Report on Services (Jan.) January’s CIPS/Markit report on services suggested that the economic recovery is struggling to maintain even the meagre momentum it built up at the end of last year. 3rd February 2010 · 1 min read
Emerging Europe Economics Update Turkish policymakers will look through spike in inflation The sharp rise in Turkish inflation last month was due largely to one-off factors and does nothing to change our view that the aggressive interest rate hikes now priced into the market are unlikely to... 3rd February 2010 · 1 min read
DM Markets Chart Pack No more plane sailing (Jan 10) The US stock market recovered in February after a shaky start to the year. We would not be surprised if it edged up a little more in the near term. However, we do not think the rebound ushers in the... 3rd February 2010 · 1 min read
Asia Economics Update Asian PMIs point to a strong first half January’s manufacturing Purchasing Managers’ Indices (PMIs) signal that Asia’s exports and industrial output will continue to perform well in the coming months. But price pressures are rising too... 2nd February 2010 · 1 min read
Europe Economics Update Is Greece close to breaking point? Fears that the further rise in Greek bond yields over the last week has stretched the public finances to breaking point may be a little over-done. Nonetheless, Greece still faces an enormous challenge... 2nd February 2010 · 1 min read
Global Markets Update Copper prices to fall back below $5,000/mt this year We continue to expect copper prices to fall sharply this year as the boost from stockpiling fades, the recovery in final demand disappoints, the US dollar recovers more ground and commodity prices... 2nd February 2010 · 1 min read
UK Commercial Property Data Response CIPS/Markit construction PMI (January) 2nd February 2010 · 1 min read
UK Economics Chart Pack UK crawls out of recession The UK finally emerged from recession in the last quarter of last year, but by the skin of its teeth. GDP posted a quarterly rise of just 0.1%, comparing poorly to the initial rises in output seen in... 2nd February 2010 · 1 min read
Europe Commercial Property Update RICS survey relatively upbeat on the Czech Republic Last week’s RICS Global Commercial Property Survey painted a mixed picture of commercial property investment market activity in Emerging Europe. The recovery seemed to be strongest in the Czech... 2nd February 2010 · 1 min read
