Europe Commercial Property Update Will lower interest rates halt the rise in Budapest property yields? Yesterday’s cut in official interest rates in Hungary is good news for property markets in Budapest. But we are sceptical that the latest easing cycle is sustainable. And if, as we expect, interest... 29th May 2013 · 1 min read
Europe Economics Focus Will Sweden & Norway lose their shine? Over the past five years, Sweden and Norway have performed remarkably well by the standards of the developed world, but their recoveries may be starting to run out of steam. Nonetheless, both... 29th May 2013 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Apr.) While positive on the surface, the acceleration in money supply growth conceals several worrying dynamics, not least another fall in lending to firms. 29th May 2013 · 1 min read
Europe Data Response Swedish GDP (Q1) We think that Q1’s healthy rise in Swedish GDP is not quite as encouraging as it initially seems. But while we expect GDP growth to slow over the remainder of 2013, Sweden will continue to perform... 29th May 2013 · 1 min read
Nordic & Swiss Data Response Swedish GDP (Q1 13) We think that Q1’s healthy rise in Swedish GDP is not quite as encouraging as it initially seems. But while we expect GDP growth to slow over the remainder of 2013, Sweden will continue to perform... 29th May 2013 · 1 min read
Nordic & Swiss Economics Focus Will Sweden & Norway lose their shine? Over the past five years, Sweden and Norway have performed remarkably well by the standards of the developed world, but their recoveries may be starting to run out of steam. Nonetheless, both... 29th May 2013 · 1 min read
Europe Economics Update Iceland won’t unfreeze capital flows anytime soon Five years since they were implemented, Iceland still relies on ‘temporary’ capital controls to support its currency. And they are likely to remain in place for some time yet despite the new... 28th May 2013 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (May) Recent fiscal data suggest that Greece has continued to make good fiscal progress, but the other southern euro-zone economies are not faring quite as well. 28th May 2013 · 1 min read
Europe Commercial Property Update Artificially low Zurich office yields set to rise The low level of prime office yields reported in Zurich could be a sign of strong investor confidence in that city. We suspect, however, that they have been artificially depressed by a small number of... 28th May 2013 · 1 min read
Nordic & Swiss Economics Update Iceland won’t unfreeze capital flows anytime soon Five years since they were implemented, Iceland still relies on ‘temporary’ capital controls to support its currency. And they are likely to remain in place for some time yet despite the new... 28th May 2013 · 1 min read
Europe Economics Weekly Liquidity concerns could soon deepen again The continued falls in commercial banks’ deposits at the ECB are in part a reflection of an improvement in conditions in the banking sector. But further falls could see liquidity falling to levels... 27th May 2013 · 1 min read
Europe Data Response German Ifo (May), Consumer Conf. (Jun) & Final GDP (Q1) May’s renewed rise in the German Ifo survey and the increase in the GfK consumer confidence indicator for June added to signs that the economy is recovering. But we expect the recovery to be modest. 24th May 2013 · 1 min read
Non-Euro Europe Commercial Property Outlook Better out than in The outlook for economic growth in the economies outside the single currency region are typically a little brighter than for those within it. Hence we are a little bit more upbeat about near-term... 23rd May 2013 · 1 min read
Europe Commercial Property Outlook Property's stronger start to the year will fade The euro-zone recession shows few signs of easing and we have yet to see its full impact on European property values. At the aggregate level, capital values have been supported by further small falls... 23rd May 2013 · 1 min read
Europe Data Response Euro-zone Flash PMIs (May) May’s euro-zone PMI survey adds to the recent run of slightly more encouraging news from the region, but there is little sign that the region is about to emerge from recession. 23rd May 2013 · 1 min read
Europe Economics Update Current account data not as encouraging as it seems At face value, the ongoing improvement in the euro-zone’s current account position, which has been to a large part down to developments in the peripheral economies, is a sign that the structural... 22nd May 2013 · 1 min read
