Europe Commercial Property Update Falls in Norwegian industrial yields look unsustainable Recent falls in Norwegian industrial yields have been a little surprising given the still fragile fundamentals for industrial occupier demand and rental value growth. As such, we think that the... 18th November 2010 · 1 min read
UK Economics Update What does the Irish crisis mean for the UK? Concerns have grown that the Irish debt crisis could have severe consequences for the UK economy. But our impression is that any effects on the UK economy are likely to be pretty small. 17th November 2010 · 1 min read
Europe Data Response Spanish GDP (Q3) The Spanish GDP figures confirmed that the economy narrowly avoided re-entering recession in Q3. But with the full force of the fiscal squeeze yet to be felt and global demand set to slow, it may not... 17th November 2010 · 1 min read
Non-Euro Europe Commercial Property Chart Pack Investment market upturn petering out There are clear signs that investment demand for Western European commercial property is beginning to fade. Across the region, transaction volumes have begun to fall, or have levelled off at... 17th November 2010 · 1 min read
Europe Economics Update Support would not solve all Ireland's problems It seems increasingly likely that Ireland may soon bow to pressure and ask for financial support. But while such an outcome may temporarily settle the markets, the fundamental picture will remain... 16th November 2010 · 1 min read
Europe Data Response German ZEW (Nov.) & EZ Final CPI (Oct.) November’s rise in German ZEW investor sentiment suggests that the euro-zone’s core has remained encouragingly resilient to the periphery’s troubles for now. But we still see German growth slowing... 16th November 2010 · 1 min read
Europe Economics Weekly Recovery slowing as peripheral woes deepen This week has seen worries about the euro-zone’s periphery escalate again, with Ireland in the spotlight. While the gradually emerging details of a permanent “crisis resolution mechanism” have helped... 15th November 2010 · 1 min read
Europe Data Response Euro-zone GDP (Q3) The slowdown in euro-zone GDP in the third quarter will do little to ease growing fears about the region’s periphery. The 0.4% quarterly expansion was a touch weaker than the consensus forecast and... 12th November 2010 · 1 min read
Europe Economics Update Can anything save Ireland from a Greek tragedy? The further rise in Irish bond yields over recent days has intensified speculation that Ireland will soon be forced to follow Greece in turning to international financial support. Is there anything... 11th November 2010 · 1 min read
Europe Economics Update Greece's problems still mounting Reports that Greece’s 2010 budget deficit is likely to have narrowed much less sharply than the Government had previously predicted emphasise that its problems are far from over. Greece will now come... 10th November 2010 · 1 min read
Europe Economics Update Can exports to Asia sustain the German recovery? With the resilience of German export growth partly reflecting persistently strong demand from Emerging Asia, some have argued that Germany might continue to grow rapidly as demand elsewhere in the... 9th November 2010 · 1 min read
Europe Commercial Property Update What are euro-zone real estate equity prices telling us? Recent moves in euro-zone real estate equity prices point to solid near term all-property capital value growth in France, but a period of broad stagnation in Germany, Italy and the Netherlands... 9th November 2010 · 1 min read
Europe Data Response German Industrial Production & Trade (Sep.) September’s German industrial and trade data bode pretty well for the third quarter. But given slowing global demand and the euro’s strength, a sharper slowdown in industrial and external activity... 8th November 2010 · 1 min read
Europe Commercial Property Update Should Brussels offices command a higher risk premium? Given the huge economic and political uncertainties facing Belgium, the recent widening in the spread between office yields in Brussels and other cities seems entirely rational. Indeed, we suspect... 8th November 2010 · 1 min read
Europe Economics Weekly Is the euro defying gravity? The euro’s further rise certainly has not supported our forecast that it might eventually fall to parity against the dollar. The worries about peripheral debt that we had expected to drive the... 8th November 2010 · 1 min read
Europe Economics Update Ireland's fiscal squeeze unlikely to calm markets' nerves We doubt that next year’s €6bn fiscal squeeze will be enough to ensure that the Irish Government’s 2011 budget deficit goal will be met. This, combined with rising political uncertainty and surging... 4th November 2010 · 1 min read
