Europe Economics Update Riksbank signals greater chance of a rate cut The Swedish Riksbank pushed back the date at which it expects to start raising interest rates and signalled that the probability of a rate cut in the near term has grown. We continue to think that low... 9th April 2014 · 1 min read
Nordic & Swiss Economics Update Riksbank signals greater chance of a rate cut The Swedish Riksbank pushed back the date at which it expects to start raising interest rates and signalled that the probability of a rate cut in the near term has grown. We continue to think that low... 9th April 2014 · 1 min read
Europe Economics Weekly ECB to follow words with actions before long Although President Draghi adopted a softer tone at last week’s interest rate press conference, the ECB decided to once again keep its powder dry. However, given the weak recovery and subdued inflation... 7th April 2014 · 1 min read
Global Economics Chart Pack US rebounds but China and Japan slowing The global economy is healing, but the pace of recovery differs markedly between countries. The US is now rebounding from its weather-induced slowdown and the euro-zone is steadily gaining momentum... 4th April 2014 · 1 min read
Europe Commercial Property Update What do jobs data imply for the peripheral occupier markets? Since the crisis, employment in the periphery has underperformed the euro-zone average. But recent data does at least show some positives for Portugal. And while sustained employment growth in Spain... 4th April 2014 · 1 min read
Europe Economics Update ECB edging towards more action Although the ECB left policy on hold again today, President Draghi turned his dovish rhetoric up a further notch. With the economic recovery set to remain too weak to diminish the threat of deflation... 3rd April 2014 · 1 min read
Europe Data Response Euro-zone Retail Sales (Feb.) & Final PMIs (Mar.) February’s retail sales data offered hope that the euro-zone’s recovery is slowly broadening to households, while the final PMIs suggest that the recovery may have strengthened in Q1. 3rd April 2014 · 1 min read
Europe Chart Pack Euro-zone recovery gradually building momentum The key euro-zone surveys of activity and sentiment continued to pick up in Q1, particularly in the periphery, suggesting that GDP growth in the region as a whole may have been a bit stronger than in... 2nd April 2014 · 1 min read
Europe Commercial Property Update Where next for Stockholm office yields? The fact that office yields in Stockholm have fallen below retail yields looks like a mispricing that will be reversed in due course. The good news, however, is that the Swedish economy and occupier... 2nd April 2014 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Mar.) Recently published data show that Italy and Spain made little headway in strengthening their fiscal positions in 2013, but Portugal exceeded its targets. More encouragingly, most of the periphery... 1st April 2014 · 1 min read
Europe Data Response Euro-zone Unemployment (Feb.) & Final Manu. PMI (Mar.) February’s euro-zone labour market figures underlined the fact that the economic recovery is still far too weak to make a significant dent in the high level of unemployment across the currency union. 1st April 2014 · 1 min read
Europe Economics Update Cyprus: one year on Although the Cypriot economy has proven surprisingly resilient over the past year, its future still looks bleak. In common with a number of euro-zone economies, Cyprus is at risk of a prolonged period... 1st April 2014 · 1 min read
Global Markets Update Gulf between US & German bond yields looks set to widen The spread between the yields of 10-year US and German government bonds is close to the largest it has been since the start of EMU. But we think the spread will continue to grow. With this in mind, we... 31st March 2014 · 1 min read
Europe Economics Focus Is France resolving its problems? France is beginning to tackle its long-standing economic problems. Although a weak labour market and additional fiscal austerity will weigh on the economy this year, growth should pick up in 2015... 31st March 2014 · 1 min read
Europe Data Response Euro-zone Flash CPI (Mar.) March’s fall in euro-zone consumer price inflation probably partly reflected temporary factors relating to the timing of Easter. But the weakness of inflation suggests that the ECB may need to take... 31st March 2014 · 1 min read
Europe Economics Weekly Lacklustre Q1 growth to keep the pressure on the ECB Survey data for March provided an insight into how the euro-zone fared over Q1. While they suggested that the recovery probably gained a little momentum in the first quarter, they remain consistent... 31st March 2014 · 1 min read
