Europe Commercial Property Update Italy: the best of a bad bunch? The Q2 2010 RICS global commercial property survey points to a divergence in commercial property performance between Italy and the rest of the so-called “PIIGS”. That is consistent with our view that... 26th July 2010 · 1 min read
Europe Economics Update Bank stress tests leave unanswered questions The EU bank stress tests may have helped to reduce uncertainties around the health of Europe’s largest banks’ balance sheets. But concerns remain over the way the tests were constructed and we are... 26th July 2010 · 1 min read
Europe Data Response German Ifo Survey (Jul.) & French Consumer Spending (Jun.) July’s rise in the German Ifo index suggests that the economy is performing very well despite signs of a slowdown in the US and elsewhere. But June’s fall in French consumer spending confirmed that... 23rd July 2010 · 1 min read
Europe Economics Update Germany to the rescue? Germany’s export-led recovery appears to be going from strength to strength. But while this is clearly good news, a domestic revival would be required to ensure a strong and sustained pick-up in the... 22nd July 2010 · 1 min read
Europe Commercial Property Update Latest rise in Greek property yields is unlikely to be the last The fact that rises in Greek property yields have accelerated recently highlights the increasing perception of investment risk associated with the country. And with fears of a government default... 22nd July 2010 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Jul.) July’s rise in the euro-zone composite PMI suggests that, for now at least, the region is (perhaps surprisingly) evading the threat of a double-dip recession apparently facing the US and UK. 22nd July 2010 · 1 min read
Europe Economics Weekly Industrial divergences likely to grow Last week’s euro-zone industrial data provided further evidence that the recovery in the sector remains on track. But it also added to worries that divergences within the region are building and that... 19th July 2010 · 1 min read
Europe Data Response Euro-zone Trade Balance (May) Euro-zone exports continued to recover in May. But as the global economic revival loses momentum, weaker export growth will exacerbate the negative effects of the fiscal squeeze on the wider economy. 16th July 2010 · 1 min read
Europe Data Response Euro-zone Industrial Production (May) & Final CPI (Jun.) May’s euro-zone industrial production data confirm that the recovery remains on track for now. But as global demand slows and domestic demand is hit by the fiscal squeeze, the revival in the wider... 14th July 2010 · 1 min read
Europe Economics Update Greece still heavily reliant on its bailout facility On the face of it, today’s Greek treasury bill auction, the first since April’s bailout package was activated, provides some reassurance that markets’ confidence may be gradually returning. But Greece... 13th July 2010 · 1 min read
Europe Data Response German ZEW (Jul.) July’s fall in German investor sentiment highlights concerns that peripheral debt worries and banking sector problems might stem the recovery in the euro-zone’s largest economy before long. 13th July 2010 · 1 min read
Europe Economics Weekly ECB to support banks as stress tests bring little comfort Last week’s confirmation that stress tests of EU banks will be published on 23rd July did little to ease fears about the sector, probably because the scenarios considered will not be adverse enough... 12th July 2010 · 1 min read
Europe Commercial Property Update World Cup triumph does not improve the Spanish retail outlook While it is not unreasonable to suggest the Spanish retail property market could be boosted by the national team’s World Cup success, unfortunately we think other factors will continue to provide far... 12th July 2010 · 1 min read
Europe Commercial Property Update Will Swedish property yields fall much further? The emerging recovery in Swedish property yields looks set to continue in the near-term. Indeed, we now think that the economic outlook in Sweden is one of the brightest in Western Europe, while... 8th July 2010 · 1 min read
Europe Economics Update ECB to maintain support for banks After leaving interest rates unchanged today, the ECB confirmed that it would continue to support the banking sector with unlimited liquidity provision. And its cautious tone regarding the economic... 8th July 2010 · 1 min read
Europe Data Response German Industrial Production & Trade (May) May’s sharp rises in German industrial production and exports add to evidence that any negative effects on the sectors from the euro-zone fiscal crisis are being more than offset by the global... 8th July 2010 · 1 min read
