India Economics Update Corporate bond reform could ease financing constraints Recent measures aimed at reinvigorating India’s domestic corporate bond market are likely to vary in their impact. But overall, the reforms should help to open a new source of financing for Indian... 15th September 2016 · 1 min read
Australia & New Zealand Data Response New Zealand GDP (Q2) By contributing to a surge in housing-related activity, record low interest rates provided the foundations for the impressive pick-up in GDP growth in the second quarter. This probably won’t prevent... 15th September 2016 · 1 min read
Nordic & Swiss Economics Update SNB on hold, but set to renew currency interventions The Swiss National Bank’s decision to leave policy on hold came as no surprise as easing Brexit fears and the ECB’s inaction have led upward pressure on the franc to abate. But the SNB made clear that... 15th September 2016 · 1 min read
Energy Data Response US Weekly Petroleum Status Report (14th Sep. 16) US inventories of crude oil fell last week as imports rebounded by less than expected after the previous week’s hurricane-related disruptions. On the other hand, stocks of gasoline and distillates... 14th September 2016 · 1 min read
US Housing Market Outlook Market conditions tighten as inventory falls The number of existing homes for sale has fallen to a 15-year low, which is both constraining housing market activity and putting upward pressure on house prices. But as new households struggle to... 14th September 2016 · 1 min read
Europe Economics Update Extension of “Juncker plan” would not be a game-changer The “Juncker plan” has done little to boost investment. Accordingly, an extension of the scheme, proposed by President Juncker this morning, is unlikely to raise the euro-zone’s growth prospects. 14th September 2016 · 1 min read
Metals Watch Oversupply to weigh on the price of iron ore Iron ore prices have been on a bit of a rollercoaster this year, rising on waves of optimism about China’s demand, before slipping back on persistent growth in supply. In this Metals Watch, we argue... 14th September 2016 · 1 min read
US Fed Watch Fed unlikely to hike rates again before December It is always possible that the Fed could surprise us with an unexpected rate hike next week, but we very much doubt that will happen, it just doesn’t fit Chair Janet Yellen’s more cautious style. At... 14th September 2016 · 1 min read
Canada Data Response Teranet-National Bank House Prices (Aug. 16) The Teranet house price index shows the national growth rate climbed to a six-year high of 11.4% y/y in August, as prices continued to increase in Vancouver even after the introduction of the new... 14th September 2016 · 1 min read
Capital Daily BoJ policy easing is likely to keep a lid on long-dated JGB yields 14th September 2016 · 1 min read
US Economics Update Labour market slack no longer shrinking Since the start of this year the rate of improvement in labour market conditions has slowed to a crawl. While a welcome rebound in the participation rate helps to explain why the unemployment rate has... 14th September 2016 · 1 min read
Africa Economics Update South African economy losing steam in Q3 Output figures for July suggest that South Africa’s economy weakened a bit at the beginning of Q3. This supports our view that strong growth in Q2 was a brief rebound, not the beginning of a lasting... 14th September 2016 · 1 min read
Europe Data Response Ireland GDP (Q2) Looking through the massive distortions in the Irish GDP data, today’s Q2 release suggests that the impressive recovery might have slowed. And survey evidence suggests that growth has slowed further... 14th September 2016 · 1 min read
Latin America Economics Update Venezuela: dodging near-term default, kicks can down the road An imminent restructuring of the short term dollar debt of Venezuela’s state-owned oil company, PDVSA, means that the severely cash-strapped government should avoid default over the next 12 months... 14th September 2016 · 1 min read
UK Commercial Property Data Response Employment (Jul.) The first release to include post-referendum jobs data suggests that jobs growth is proving resilient. Nevertheless, job creation is likely to slow in the months ahead, but occupier demand is unlikely... 14th September 2016 · 1 min read
Europe Data Response Euro-zone Industrial Production (Jul.) The weakness of euro-zone industry in July suggests that industrial production will struggle to expand at all over Q3 and doesn’t bode well for GDP growth this quarter. 14th September 2016 · 1 min read
