DM Markets Chart Pack After a wobble, US equities post another record high The S&P 500 has recovered from a major wobble in October and recently posted another record high. That being said, we don’t think the strong performance is likely to last. The value of the US stock... 4th November 2014 · 1 min read
Europe Economics Update What can the ECB learn from the Bank of Japan? While the extension of the Bank of Japan’s quantitative easing programme may not deliver a sharp upturn in the Japanese economy, the signal it has sent regarding the future stance of Japanese monetary... 4th November 2014 · 1 min read
Europe Economics Update Precautionary credit line may not be sufficient for Greece The Greek Government appears to have backtracked from plans of a “clean exit” from its EU bail-out programme in December, but it might still be over-estimating the extent to which it can finance... 4th November 2014 · 1 min read
Europe Economics Update Gold referendum highlights limits of SNB policy Fears that a referendum over the Swiss National Bank’s (SNB’s) gold holdings might prevent the Bank defending its ceiling for the Swiss franc may be overblown. But the referendum highlights political... 4th November 2014 · 1 min read
Nordic & Swiss Economics Update Gold referendum highlights limits of SNB policy Fears that a referendum over the Swiss National Bank’s (SNB’s) gold holdings might prevent the Bank defending its ceiling for the Swiss franc may be overblown. But the referendum highlights political... 4th November 2014 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Oct.) All peripheral economies narrowed their budget deficits in September but France and Italy submitted draft budgets that flouted EU fiscal rules. 3rd November 2014 · 1 min read
Global Markets Outlook Bubble in US Treasuries should deflate soon If recent history is any guide, Fed tightening is unlikely to derail stock markets to the extent that many fear. Our view is that while US equities will struggle to make further headway, they will... 31st October 2014 · 1 min read
Europe Economics Update Italian labour market reform won’t transform economy The Italian Prime Minister’s package of labour market reforms is a step in the right direction, but reform efforts are moving too slowly to ensure a meaningful reduction in unemployment or improvement... 31st October 2014 · 1 min read
Europe Economics Weekly Banking sector recovery still appears fragile Last week’s bank stress test results, September’s lending data and the ECB’s latest Bank Lending Survey all suggested that conditions in the euro-zone’s banking sector are, on the whole, improving... 31st October 2014 · 1 min read
Europe Data Response Euro-zone Flash CPI (Oct.) & Unemployment (Sep.) With euro-zone HICP inflation still close to zero in October and the unemployment rate holding near a record high, there remains a significant risk of deflation in the single currency area. 31st October 2014 · 1 min read
ECB Watch Political pressure keeping lid on QE for now The ECB seems unlikely to announce any new policies this month as it continues to purchase small quantities of covered bonds and prepares to buy asset-backed securities. With the risk of deflation... 30th October 2014 · 1 min read
Europe Data Response Euro-zone EC Survey (Oct.) October’s EC Business and Consumer Survey suggests that the euro-zone economy got off to a weak start in Q4, after broadly stagnating in Q3. 30th October 2014 · 1 min read
Global Economics Update Monetary conditions set to remain loose The likely end of the Fed’s asset purchases under QE3 does little to change the bigger picture that global monetary conditions remain very loose. 29th October 2014 · 1 min read
Europe Commercial Property Update Falling vacancy points to Brussels industrial rental growth Despite only tepid economic growth in Belgium, strengthening occupier demand has caused industrial vacancy rates to fall. With vacancy at frictional levels, prime rental value growth will soon widen... 29th October 2014 · 1 min read
Europe Data Response ECB Bank Lending Survey (Oct.) The ECB’s October Bank Lending Survey (BLS) provided further evidence of a slow improvement in euro-zone credit conditions. But lending standards are still tight and the faltering economic recovery... 29th October 2014 · 1 min read
Europe Commercial Property Update Italian investment volumes set to grow after bank stress tests A low volume of “bad asset” sales helps to explain why Italy’s investment growth has lagged behind other countries. Yet the recent bank stress tests, combined with changes to the Italian REIT... 28th October 2014 · 1 min read
