Europe Commercial Property Update Further scope for German office values to rise Office values in Germany’s four main cities have risen sharply in recent years. But a strong occupier market suggests that valuations aren’t excessively stretched. Furthermore, with a positive outlook... 26th May 2016 · 1 min read
ECB Watch Draghi to be dovish but stress that ECB can’t do it all The European Central Bank (ECB) is likely to maintain a dovish tone at its forthcoming policy meeting on 2nd June, forecasting below target inflation and holding open the door to further policy... 26th May 2016 · 1 min read
Europe Economics Update Eurogroup’s Greek debt pledges fall a long way short The likely disbursement of the next tranche of Greece’s third bailout may have reduced the risk of a summer flare-up of the country’s debt crisis. But with the creditors’ pledges on debt relief... 25th May 2016 · 1 min read
Europe Data Response German Ifo Survey (May) May’s rise in the German Ifo suggests that the economy has continued to grow at pretty healthy rates, but the fast quarterly pace seen in Q1 will not be sustained. 25th May 2016 · 1 min read
Europe Commercial Property Update Have Dublin office yields fallen too far? The decline in prime Dublin office yields towards pre-crisis levels raises the question of whether they have again fallen too far? But with a positive rental growth outlook and risk-free rates at... 24th May 2016 · 1 min read
Europe Economics Focus Is Europe heading back into crisis? With the recovery in the euro-zone economy set to slow and the peripheral countries still facing a Herculean task to address their fiscal problems, there is a danger that Europe’s debt crisis will... 24th May 2016 · 1 min read
Europe Economics Update Austrian result offers only brief respite from far-right’s rise The election of pro-immigration and -EU Alexander Van der Bellen as Austria’s next president keeps the far-right Freedom Party (FPÖ) out of office for now. But the FPÖ remain the top party in general... 24th May 2016 · 1 min read
Europe Data Response German ZEW Survey (May) & GDP Breakdown (Q1) The second German GDP release for Q1 confirmed that stronger domestic spending drove a sharp pick-up in overall activity. But May’s fall in German ZEW investor sentiment supports our view that growth... 24th May 2016 · 1 min read
Europe Data Response Euro-zone Flash PMIs (May) The euro-zone Composite PMI edged down in May despite rises in Germany and France, suggesting that growth in the rest of the euro-zone lost momentum. And with new export orders falling to a 16-month... 23rd May 2016 · 1 min read
Global Markets Update How do the valuations of US and European equities stack up? Is the stock market in the US overvalued or undervalued relative to its counterpart in Europe? The answer largely depends on which metric is chosen and how earnings evolve. 23rd May 2016 · 1 min read
Nordic & Swiss Economics Update Swedish inflation outlook dependent on krona strength The rise in Swedish inflation will prove short-lived if inflation expectations stay below 2%. In order to boost such expectations, the Riksbank must ensure that the krona does not appreciate strongly. 21st May 2016 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Economic uncertainty slows yield falls and rental growth The start to the year has seen a slight easing of economic growth in much of the region, in part due to a rise in uncertainty. This caused investment activity to fall back significantly and rental... 20th May 2016 · 1 min read
Europe Commercial Property Chart Pack Marked slowdown in capital value growth With all-property rental values rising by a little under 0.5% q/q in Q1, it was further yield compression that once again drove capital value growth. But with yields declining by just 5bps, capital... 20th May 2016 · 1 min read
Europe Economics Weekly Has the EC become more lenient on fiscal policy? On the face of it, last week’s decisions by the European Commission to allow Italy greater flexibility in its budget, and not to fine Spain and Portugal for their large deficits, suggest that it has... 20th May 2016 · 1 min read
Europe Economics Update Will Dutch consumers keep on spending? Despite the recent falls in consumer confidence, there are a number of reasons to be positive about the outlook for household spending in the Netherlands over the coming years. Nevertheless, worries... 18th May 2016 · 1 min read
Europe Economics Update French strikes darken the economic outlook This week’s French protests over a watered down labour market law highlight just how hard it will be to reform the economy. This suggests that France’s economic weakness will be prolonged... 17th May 2016 · 1 min read
