Europe Data Response German Flash CPI (Jul.) & Euro-zone M3 (Jun.) July’s rise in German CPI inflation appears to have been driven by energy prices. Underlying price pressures remain subdued and with the economic recovery already slowing, there is little risk of a... 28th July 2011 · 1 min read
Europe Economic Outlook Crisis deepens as slowdown spreads to the core The latest rescue package for Greece has reduced the threat of a near-term catastrophe in the eurozone.But it does not address the fundamental problems facing Greece itself and is unlikely to bring an... 27th July 2011 · 1 min read
Europe Economics Weekly Back from the brink, for now The positive market reaction to the Greek rescue package is not without some justification. After all, following the dithering and disagreement of recent months, it would not have been a shock if... 26th July 2011 · 1 min read
Europe Commercial Property Update End of the road for German industrial yield compression? We suspect that Q2’s fall in yields may mark the end of the road for the German industrial investment market recovery. As our fears of a rapid slowdown in the manufacturing recovery are borne out... 26th July 2011 · 1 min read
Europe Data Response German Ifo Survey (Jul.) July’s drop in the German Ifo index was another sign that the recovery in the eurozone’s largest and strongest economy is faltering. 23rd July 2011 · 1 min read
Europe Commercial Property Update Euro-zone PMIs highlight the downside risks to occupier demand This morning’s flash euro-zone PMI release suggests that economic recovery in the region may have ground to a virtual halt. The fact that euro-zone manufacturing output is now barely rising supports... 22nd July 2011 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Jul.) The sharp fall in the flash euro-zone PMI in July provides further signs that slowing export growth and the debt crisis is starting to take a heavy toll on the region’s economic recovery both in the... 22nd July 2011 · 1 min read
Europe Economics Update Greece needs much more than a bank levy News that a bank levy may be used to help fund Greece’s second rescue package suggests that eurozone policymakers are more concerned about appeasing taxpayers than adopting bold and decisive measures... 21st July 2011 · 1 min read
Europe Commercial Property Update Will the franc derail the Swiss occupier market recovery? It looks increasingly likely that the sovereign debt crisis in the euro-zone will take a heavy toll on the Swiss economy. As a result, the emerging recovery in Swiss commercial property rental values... 21st July 2011 · 1 min read
Global Markets Update What next for the Swiss franc? Most of the world’s major “paper” currencies have fallen out of favour. But the Swiss franc is an exception to the rule. It has even outperformed gold since the start of the year. We expect the upward... 20th July 2011 · 1 min read
Europe Economics Update Last chance saloon for euro-zone policymakers? This week’s crucial summit could provide the last chance for euro-zone policymakers to get a grip on the region’s debt crisis. Anything other than a very decisive response which could be applied not... 20th July 2011 · 1 min read
Europe Data Response German ZEW Survey (Jul.) July’s drop in German ZEW investor sentiment highlights fears that the peripheral crisis could soon do some serious damage to the German economy. 20th July 2011 · 1 min read
Europe Economics Weekly Still fiddling while Rome starts to burn Having pledged to agree on a new rescue package for Greece last week, euro-zone policymakers managed only another vague statement pledging their commitment to “safeguard financial stability” in the... 19th July 2011 · 1 min read
Europe Commercial Property Update How significant is the slump in Brussels office take-up? It is tempting to dismiss the recent slump in office market take-up in Brussels as noise in an otherwise positive trend. But it could reflect the early stages of a labour market slowdown as firms... 15th July 2011 · 1 min read
Europe Economics Update Italy’s troubles raise risk of euro-zone break-up The growing recognition that highly indebted economies need more than temporary loans has caused the spotlight to turn on Italy. With EU taxpayers unlikely to stump up enough cash to rescue such a... 14th July 2011 · 1 min read
Global Markets Update Are the best days for German Bunds behind us? German Bunds have prospered from the escalating crisis in the euro-zone. Earlier this week, the 10- year yield briefly hit 2.5% – a new low for the year – before edging up again to 2.7% now. Our base... 14th July 2011 · 1 min read
