Commodities Update Grain & soybean mountains to depress prices further A sharp upward revision to Chinese corn stocks means that global end-year inventories are now expected to be at a record high. With a bloated global supply picture, we think further weakness in the... 11th November 2015 · 1 min read
Capital Daily How vulnerable are euro-zone sovereign bonds to events in Portugal? 11th November 2015 · 1 min read
Commodities Update Unloved copper set to rebound The price of copper is languishing below US$5,000 per tonne, undermined by negative sentiment towards commodities in general and concerns about demand from China in particular. Nonetheless, the... 11th November 2015 · 1 min read
US Housing Market Chart Pack Lack of inventory squeezes house prices higher Housing demand is being supported by a gradual easing in credit conditions, which helped the homeownership rate to pick-up from a 48-year low in the third quarter. But with inventory levels still very... 11th November 2015 · 1 min read
Latin America Data Response Mexico Industrial Production (Sep.) The further pick-up in Mexican industrial production growth in September, to 1.7% y/y, suggests that the sector may finally be finding its feet. But overall, industry probably contributed only a... 11th November 2015 · 1 min read
Middle East & North Africa Data Response Saudi Arabia Consumer Prices (Oct.) Saudi inflation edged up for the second consecutive month in October, to 2.4% y/y, a fresh high for this year. Even so, low global commodity prices and slower economic growth should keep price... 11th November 2015 · 1 min read
Africa Economics Update Nigeria: New cabinet faces daunting economic challenges Investors are likely to welcome the long-delayed appointment of a federal cabinet in Nigeria. But the newly-appointed ministers face an up-hill battle to revive the economy, and it isn’t clear how... 11th November 2015 · 1 min read
Europe Economics Update Is the Greek economy out of danger? The recent run of surprisingly strong data from Greece does not mean that the economy is out of danger. Not only has some survey evidence painted a much gloomier picture, but the full adverse economic... 11th November 2015 · 1 min read
UK Housing Market Data Response CML Lending Trends (2015 Q3) While the strength of BTL lending will doubtless attract most of the headlines, today’s CML data show that more than half of BTL advances were for remortgaging rather than house purchase. This implies... 11th November 2015 · 1 min read
EM Markets Chart Pack EM markets take blockbuster payrolls in their stride EM financial markets took the blockbuster October US employment report in their stride, and we continue to expect them to perform well even as the Fed starts to raise interest rates. 11th November 2015 · 1 min read
UK Commercial Property Data Response Employment (September) Today’s jobs numbers were slightly higher than we had expected implying that occupier market conditions are still healthy. Indeed, today’s jobs numbers are broadly consistent with our rental growth... 11th November 2015 · 1 min read
UK Data Response Labour market data (Sep./Oct.) Labour market activity is still looking quite healthy. But the slowdown in wage growth in the latest figures confirmed that an interest rate rise is still some way off. 11th November 2015 · 1 min read
Commodities Update Malaysia Monthly Palm Oil Data (Oct.) Data released earlier today by Malaysia’s Palm Oil Board show that palm oil production rose in October, helping to push inventories higher. 11th November 2015 · 1 min read
China Data Response Activity & Spending (Oct.) Industrial activity remained subdued last month but a pick-up in investment and strong retail sales suggest that the economy is still on track for a recovery over the coming quarters. 11th November 2015 · 1 min read
Emerging Europe Data Response Turkey Current Account (Sep.) Turkey’s monthly current account balance rose a little further into surplus in September, but this was mainly due to lower energy imports and an improvement in the gold trade balance. The underlying... 11th November 2015 · 1 min read
India Economics Update Government’s FDI push still requires wider reform Measures announced yesterday to further ease restrictions on foreign direct investment into India should help to build on one of the main policy successes of the Modi government so far. However, wider... 11th November 2015 · 1 min read
