US Housing Market Data Response New Home Sales (Feb.) Good weather and a lack of existing homes for sale gave the new homes sector a boost in February, generating a robust 6.1% m/m rise in sales. A shortage of cheaper, starter homes will weigh on sales... 23rd March 2017 · 1 min read
Industrial Metals Update China’s metals imports sink China’s metals imports appear to have started the year on a soft note. Higher prices might have deterred purchases but we think that, in some cases, demand has also been sluggish. That said, we are... 23rd March 2017 · 1 min read
Latin America Data Response Mexico Bi-Weekly Consumer Prices (Mar.) Mexican inflation rose to a fresh seven-year high of 5.3% y/y in the first half of March but the details of the data contained some signs that the upward pressure on prices is easing. Nonetheless, we... 23rd March 2017 · 1 min read
Europe Commercial Property Update Slow office rental growth in Milan set to continue The Italian economy has started the year on a strong footing. But GDP and employment growth are expected to slow this year. Combined with a rise in completions, that will act as a brake on the pace of... 23rd March 2017 · 1 min read
DM Valuations Monitor Do stretched valuations signal trouble ahead? The valuations of many assets have rarely been as high as they are now. When they have reached such levels in the past, sharp falls have often followed. This suggests that there is a significant risk... 23rd March 2017 · 1 min read
UK Data Response CBI Distributive Trades Survey (Mar.) The CBI Distributive Trades Survey held its ground in March. But given that the survey remains much weaker than it was towards the tail end of last year, it still points to a significant slowdown in... 23rd March 2017 · 1 min read
Energy Update China’s coal demand to resume downward trend Cold weather and strong economic growth have supported coal consumption in China recently. But a slowing economy and strong growth in renewables should undermine demand later in the year. 23rd March 2017 · 1 min read
UK Economics Update Why won’t the MPC soon follow the Fed? Despite higher UK inflation and solid growth, there are good reasons why the MPC will not quickly follow the US Fed in tightening monetary policy. 23rd March 2017 · 1 min read
US Economics Update Does the health care vote threaten Trump’s fiscal stimulus? Thursday’s key House vote on the Republicans’ health care bill has been attracting a lot of attention in the markets amid fears that a defeat would threaten President Donald Trump’s plans for a major... 23rd March 2017 · 1 min read
Asia Economics Update Improving economy means further rate cuts in Taiwan unlikely The decision by Taiwan’s central bank (CBC) to keep its policy rate on hold today at 1.375% came as no surprise given the recent rebound in the economy. With inflationary pressures still very weak, we... 23rd March 2017 · 1 min read
UK Data Response Retail Sales (Feb.) The latest retail sales figures will provide some reassurance that higher inflation has not brought growth in consumer spending to a complete halt. That said, the outlook for spending this year is... 23rd March 2017 · 1 min read
Asia Economics Update Philippines to keep rates on hold this year Today’s decision by the central bank in the Philippines (BSP) to keep its main policy rate on hold at 3.0% had been widely expected. Looking ahead, while a growing number of analysts are predicting... 23rd March 2017 · 1 min read
Emerging Europe Chart Pack Inflation jumps, but no rush to tighten The jump in inflation across much of Emerging Europe last month has shifted the focus onto policy tightening. But in most cases this has been a one-off rise from higher fuel inflation, and there is... 23rd March 2017 · 1 min read
UK Housing Market Update Official house price index is overstating price pressures Despite some very strong readings from the official index, there is little evidence elsewhere to suggest that the price of newbuild homes has surged. Rather, the strong data likely reflect a timing... 23rd March 2017 · 1 min read
Australia & New Zealand Chart Pack Australia won’t stay ahead for long The rebound in GDP growth in Australia in the fourth quarter and the easing in New Zealand appear to imply that the neighbouring nations are experiencing a change of fortunes. But we doubt this is a... 23rd March 2017 · 1 min read
India Chart Pack Demonetisation impact wearing off The latest economic data for India suggest that the most acute impact from the government’s demonetisation measures has now passed. Both the manufacturing and services PMI readings for February came... 23rd March 2017 · 1 min read
