Europe Commercial Property Update Which markets are most at risk from the rise in bond yields? The recent rise in bond yields is unlikely to feed automatically into higher European property yields. But to the extent that it increases concerns about the growth outlook and debt burdens, the... 26th June 2013 · 1 min read
Europe Economics Focus Can Slovenia avoid a bail-out? In spite of Slovenia’s low public debt and small banks, the country is in a very precarious position given the scale of the rot in the banking sector. To avoid a bail-out, the Government will need to... 26th June 2013 · 1 min read
Europe Commercial Property Update French logistics market to hold up better than office or retail The post-credit crunch underperformance by logistics capital values in France relative to the office and retail sectors may leave scope for a period of outperformance. Yet this morning’s business... 25th June 2013 · 1 min read
Europe Economics Update Is another Greek election in the offing? While the withdrawal of the smallest party from the Greek coalition is certainly an unwelcome development, for now at least, the Government should be able to limp on. But if the Troika forces it to... 24th June 2013 · 1 min read
Europe Data Response German Ifo Survey (Jun.) June’s German Ifo survey echoed the slightly firmer tone of other recent indicators. But it certainly did not suggest that the euro-zone’s biggest economy is embarking on a spectacular recovery. 24th June 2013 · 1 min read
Europe Economics Weekly The periphery is still uncompetitive Labour cost data released last week provided further evidence that the competitiveness gap between the euro-zone periphery and core may be narrowing. While labour costs were little unchanged or lower... 24th June 2013 · 1 min read
Europe Commercial Property Update Is it possible that Spanish property is now a good bet? Improvements in Spanish economic sentiment suggest that the recession has eased in the second quarter. Given that there is plenty of headroom for Spanish office and industrial capital values to rise... 20th June 2013 · 1 min read
Europe Economics Update Italian public finances remain in a precarious state We doubt that the new growth measures adopted by the Italian government will have much effect on the economy and still expect the 2013 budget deficit to be well above target. Based on this and Italy’s... 20th June 2013 · 1 min read
Europe Economics Update Norges Bank rate cut still a possibility The Norges Bank left interest rates unchanged today as concerns about financial stability once again outweighed the need to weaken the currency and boost inflation. But the Bank once again pushed back... 20th June 2013 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Jun.) June’s euro-zone PMI survey continued the upward trend of recent months, but still suggests that the euro-zone economy contracted for a seventh quarter running in Q2. 20th June 2013 · 1 min read
Nordic & Swiss Economics Update Norges Bank rate cut still a possibility The Norges Bank left interest rates unchanged today as concerns about financial stability once again outweighed the need to weaken the currency and boost inflation. But the Bank once again pushed back... 20th June 2013 · 1 min read
Europe Commercial Property Update How sustainable are Stockholm office yields? The low level of Stockholm office yields reflects safe haven demand and Sweden’s comparatively strong economy. These factors are likely to support yields for the next year or so. On a five-year view... 19th June 2013 · 1 min read
Europe Economics Update Could a global bond sell-off reignite the euro-zone crisis? A further rise in global bond yields could push borrowing costs for some euro-zone governments back towards danger levels and underline the limitations of the ECB’s OMT programme. 19th June 2013 · 1 min read
Europe Economics Update Greek bail-out appears safe...for now We doubt that the recent bout of political uncertainty, coupled with concerns over the Government’s ability to meet the privatisation targets set by the Troika, poses a serious near-term threat to... 18th June 2013 · 1 min read
Europe Data Response German ZEW Survey (Jun.) The rise in the headline ZEW index in June reinforced other data in pointing to an acceleration in the German economy. But while expectations picked up, the ‘current situation’ component fell again. 18th June 2013 · 1 min read
Europe Economics Update What the Dutch current account says about the euro-zone As the euro-zone periphery struggles to pay off its external debt, core countries like the Netherlands are still running record current account surpluses. But the Netherlands seems unlikely to reduce... 17th June 2013 · 1 min read
