Global Markets Update How credible is OPEC's new oil price target? OPEC’s informal target of $75-80 per barrel (pb) might be a reasonable starting point for an assumption about the medium-term outlook for oil prices, but it is certainly not the last word. Our view is... 28th May 2009 · 1 min read
Emerging Europe Chart Pack Off to an horrific start (May 09) Q1 GDP data released over the past month paint a grim picture, with most economies in the region contracting at a record pace. This is unsurprising given the meltdown in the region’s banking sector at... 28th May 2009 · 1 min read
ECB Watch ECB still hesitant to pull out all the stops Euro-zone interest rates will almost certainly be on hold in June, but the focus has shifted to any developments regarding unconventional policies. The Bank is likely to confirm its intention to start... 28th May 2009 · 1 min read
Europe Commercial Property Update Dutch capital values unlikely to fall as sharp as RICS survey suggests The recent RICS Global Commercial Property Survey suggests that, within Europe, the Netherlands will see the sharpest falls in capital values over the next few months. With property yields already at... 28th May 2009 · 1 min read
UK Economics Focus Is the lower pound already helping? On the face of it, the plummeting level of UK exports suggests that the sharp drop in the sterling exchange rate over the last year or two has done nothing to cushion the UK’s external sector from the... 27th May 2009 · 1 min read
UK Housing Market Update How significant is the rise in new buyer interest? The improvement in buyer interest in recent months has raised hopes of an imminent recovery. However, we think this is overly optimistic. When looked at in perspective, the recent upturn has been very... 27th May 2009 · 1 min read
Europe Economics Focus The euro-zone inventory overhang has yet to unwind Our analysis suggests that the inventory rundown underway in the euro-zone manufacturing sector has further to go and, crucially, that the pace of destocking is likely to be even greater in Q2 than in... 27th May 2009 · 1 min read
Asia Economics Update Japan's trade data show Q2 off to a flying start The jump in Japanese export volumes in April gets the second quarter off to a flying start. Combined with the improvement in the forward-looking survey data it looks increasingly likely that GDP will... 27th May 2009 · 1 min read
