US Housing Market Data Response Mortgage Applications (Aug.) Despite a positive economic backdrop supporting housing demand, very low levels of housing inventory are putting off potential buyers. Mortgage applications for home purchase fell for the second... 7th September 2016 · 1 min read
UK Housing Market Chart Pack Post-referendum shock starts to wane There are increasing signs that the initial post-referendum shock has begun to recede. With buyer numbers still falling and confidence still shaky, the weakness in transactions will last for several... 7th September 2016 · 1 min read
Global Markets Update Market implications of a possible shift in the policy mix With monetary stimulus approaching its limits, fiscal stimulus could soon become more fashionable. What would be the effect of such a shift in the policy mix on bonds, currencies and equities? 7th September 2016 · 1 min read
Precious Metals Update Any weakness in silver prices to be short-lived The silver price has surged this year, together with gold, bolstered by investor demand especially in the wake of the UK Brexit vote. Although prices might give up some of their recent gains when Fed... 7th September 2016 · 1 min read
China Economics Update Fall in inflation will be short-lived Consumer price inflation is likely to have fallen further in August, dragged down by a drop in food price inflation. But this will mask a continued pick-up in broader price pressures that is set to... 7th September 2016 · 1 min read
Japan Chart Pack Labour market tightest since mid-1990s Japan’s labour market has been tight for a while but the unemployment rate has continued to fall and now stands at a level last seen in the mid-1990s. The latest data show a long-awaited pick-up in... 7th September 2016 · 1 min read
UK Data Response Industrial Production (Jul.) Today’s industrial production figures confirmed the previous survey evidence that the leave vote has had an initial adverse impact on the sector in July. But the surveys point to a rebound in... 7th September 2016 · 1 min read
Europe Economics Update Real rates in Sweden set to fall to 40-year low With the Riksbank on hold, rising inflation means that real interest rates in Sweden are set to dropto a 40-year low. Such an accommodative stance seems unnecessary given the sound economic outlook... 7th September 2016 · 1 min read
China Data Response FX reserves (Aug.) Another drop in the value of China’s foreign exchange reserves points to continued intervention by the People’s Bank. It also suggests that capital outflows remain sizeable and so that the renminbi... 7th September 2016 · 1 min read
UK Housing Market Data Response Halifax House Prices (Aug. 16) Today’s data from the Halifax point to a minor post-referendum dip in house prices. But with the economic data increasingly pointing away from a full-blown recession and interest rates set to stay low... 7th September 2016 · 1 min read
Europe Data Response German Industrial Production (Jul.) July’s drop in German industrial production may have partly reflected temporary factors, but it provides a very weak base for GDP in Q3. The industrial sector should resume its expansion in the coming... 7th September 2016 · 1 min read
Asia Economics Update Malaysia’s rate hold to continue Following its move to cut rates in response to rising downside risks to growth at its last meeting in July, Malaysia’s central bank (BNM) today left its policy rate unchanged at 3.0%. With growth... 7th September 2016 · 1 min read
Australia & New Zealand Data Response Australia GDP (Q2) The return of the Australian economy in the second quarter to the growth rates seen before the end of the mining boom relieves some of the pressure on the RBA to cut interest rates again, at least in... 7th September 2016 · 1 min read
India Economics Update Fiscal deficit target is under pressure The rapid expansion of the government deficit in the early part of this fiscal year is a common occurrence, as revenues tend to get ramped up in the latter months. However, unlike in previous years... 7th September 2016 · 1 min read
Nordic & Swiss Economics Update Real rates in Sweden set to fall to 40-year low With the Riksbank on hold, rising inflation means that real interest rates in Sweden are set to drop to a 40-year low. Such an accommodative stance seems unnecessary given the sound economic outlook... 7th September 2016 · 1 min read
US Housing Market Chart Pack Market conditions tighten further A lack of inventory continues to drive developments in the housing market. The number of existing homes for sale dropped below 2 million in July, its lowest level in 15 years. Meanwhile, a surge in... 6th September 2016 · 1 min read
