Europe Commercial Property Update Further yield hardening means peripheral markets will be vulnerable Greece’s future in the euro-zone is still far from secure, and upcoming general elections in Portugal, Spain and Ireland could lead to significant political changes. Nevertheless, given that property... 16th July 2015 · 1 min read
Europe Data Response Euro-zone Trade (May) May’s euro-zone goods trade data suggested that the depreciation of the euro over thepast year is still only providing a modest boost to export growth. 16th July 2015 · 1 min read
Europe Data Response French CPI (Jun.) France’s June inflation data confirmed that price pressures remain very subdued in the euro-zone’s second-largest economy. And the substantial slack in the labour market means that core inflation is... 15th July 2015 · 1 min read
Europe Commercial Property Update The wait for signs of renewed vigour in Brussels offices goes on Subdued economic growth and similarly weak office sector demand have resulted in muted take-up volumes in Brussels. The slow first half of the year means that we have trimmed our rental growth... 14th July 2015 · 1 min read
Europe Economics Update Greek “deal” still has major hurdles to clear While yesterday’s announcement of an agreement to provide Greece with a third bailout was greeted with understandable relief, there are still very big hurdles to be cleared before the deal is... 14th July 2015 · 1 min read
Europe Data Response Euro-zone Industrial Production (May) & German ZEW (Jul.) May’s weak industrial production data and the fall in German ZEW investor sentiment in July suggested that the euro-zone’s fragile recovery may be slowing. 14th July 2015 · 1 min read
Europe Data Response Swedish Consumer Prices (Jun.) The fall in Sweden’s headline inflation rate below zero in June vindicated the Riksbank’s decision earlier this month to cut its policy rate further and extend its bond-buying programme. But we think... 14th July 2015 · 1 min read
Nordic & Swiss Data Response Swedish Consumer Prices (Jun. 15) The fall in Sweden’s headline inflation rate below zero in June vindicated the Riksbank’s decision earlier this month to cut its policy rate further and extend its bond-buying programme. But we think... 14th July 2015 · 1 min read
Europe Economics Update Greek deal will only delay the inevitable Today’s tentative deal for a new Greek bailout clearly reduces the risk of a near-term exit from the single currency. But significant hurdles must be overcome before the deal is finalised. And the... 13th July 2015 · 1 min read
Europe Economics Weekly New Greek bailout would just delay the inevitable There appears to be a chance that Greece and its creditors will come to a last minute agreement on a new bailout which avoids an imminent Greek departure from the currency union. But there are many... 10th July 2015 · 1 min read
Europe Economics Update Would OMTs contain post-Grexit contagion? If a Greek exit from the euro-zone resulted in substantial market turmoil, the ECB would probably respond by unleashing its fabled OMTs. This is a potentially powerful tool to limit contagion. But... 10th July 2015 · 1 min read
Europe Data Response French & Italian Industrial Production (May) The rebound in French and Italian industrial production in May came as a welcome relief after Q2’s weak start and the disappointing German data earlier in the week. But across the euro-zone as a whole... 10th July 2015 · 1 min read
Emerging Europe Economics Update “Grexit” and the channels of potential contagion to Emerging Europe The mechanisms through which the deepening crisis in Greece could spill over to banking sectors in Emerging Europe are complex and commonly misunderstood. However, as we explain in this Watch, they... 9th July 2015 · 1 min read
ECB Watch ECB may have to play both villain and hero The ECB’s Governing Council may have to playboth villain and hero over the coming week, effectively forcing Greece out of the euro-zone bypulling the plug on Greek banks’ life support and then... 9th July 2015 · 1 min read
Europe Economics Update France's economic recovery will continue to disappoint The French economy’s decent start to 2015 is unlikely to have been sustained in Q2. Looking further ahead, we think that the recovery will struggle to gain significant pace over the next few years. In... 9th July 2015 · 1 min read
DM Markets Chart Pack Will the euro remain resilient in the event of a Grexit? The resilience of the euro against the dollar to the deepening crisis in Greece – the exchange rate is currently close to its level at the end of May – has probably been due to a combination of... 8th July 2015 · 1 min read
