Europe Commercial Property Update Is the ECB right to be worried about commercial property pricing? The ECB has expressed concern at the high level of commercial property pricing. However, with alternative asset class yields set to stay low and the potential for further rental value growth, we think... 27th November 2015 · 1 min read
Europe Data Response EC Business & Consumer Survey (Nov.) November’s EC consumer and business survey supported the message from other survey indicators released earlier this week that after Q3’s slowdown the eurozone’s economic recovery may have regained... 27th November 2015 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Oct.) Euro-zone monetary data showed some signs of improvement in October, but continue to point to low inflation and slow growth, strengthening the case for the ECB to increase its stimulus next week. 26th November 2015 · 1 min read
Europe Data Response Euro-zone Flash PMIs (Nov.) November’s solid rise in the euro-zone composite PMI suggests that the region’s recovery might regain some pace in Q4 after Q3’s slight slowdown. But we doubt that the outlook has improved enough to... 23rd November 2015 · 1 min read
Europe Commercial Property Outlook Capital value growth set to peak in 2015 Compared to our last Analyst, we have increased our expectations for yield compression over the next two years. Yet in most markets, lower yields in 2017 will lead to greater upward yield pressure in... 20th November 2015 · 1 min read
Europe Economics Update Will the Paris attacks loosen Europe’s fiscal shackles? While fiscal authorities may tolerate increased security spending by some governments after the Paris terror attacks, suggestions that Europe’s budget rules will be swept aside are over the top. 18th November 2015 · 1 min read
Europe Commercial Property Update Little sign that euro-zone property cycles are close to their peak The latest RICS Global Commercial Property Survey shows that around 70% of respondents believe that property in Germany and France is expensive. Yet while German capital values in particular have... 10th November 2015 · 1 min read
Europe Commercial Property Chart Pack Capital values increase at strongest pace since the crisis Yield compression across each of the main property sectors picked up sharply in Q3, leading to the strongest quarterly fall in euro-zone all-property yields in the currency bloc’s history. With rental... 5th November 2015 · 1 min read
Europe Data Response Euro-zone Retail Sales (Sep.) September’s euro-zone retail sales data suggested that the region’s consumer recovery is starting to run out of steam. 5th November 2015 · 1 min read
Europe Data Response Euro-zone Final PMIs (Oct.) & Producer Prices (Sep.) October’s rise in the euro-zone composite PMI suggested that the region’s recovery maintained its pace at the start of Q4. But current rates of growth are too slow to put upward pressure on inflation... 4th November 2015 · 1 min read
Europe Economics Update Euro-zone Fiscal Monitor (Oct.) The euro-zone’s peripheral economies appear to have improved their fiscal positions in the year to September. But progress hasn’t been sufficient for most to put their debt ratios on a downward trend... 2nd November 2015 · 1 min read
Europe Data Response Euro-zone Flash CPI (Oct.) & Unemployment (Sep.) While the euro-zone avoided a second straight month of falling prices in October, the absence of inflation in the region keeps the pressure firmly on the ECB to expand its QE programme in December. 30th October 2015 · 1 min read
Europe Data Response EC Business & Consumer Survey (Oct.) October’s EC business and consumer survey suggested that the euro-zone’s economic recovery may have gathered some pace at the start of Q4. But it also showed that consumer inflation expectations... 29th October 2015 · 1 min read
Europe Economics Update Can the ECB really cut rates even further? While we have argued for some time that the ECB will expand its asset purchases in December, we now expect it to cut its deposit rate further into negative territory too. This seems unlikely to have... 28th October 2015 · 1 min read
Europe Economics Update Weak inflation expectations add to pressure on ECB The dovish stance taken by the ECB in recent weeks has partly reflected its fear that inflation expectations have become unanchored from the near-2% target. Such concerns are justified, supporting... 28th October 2015 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Sep.) September’s euro-zone monetary data point to low inflation and continued slow growth, which is likely strengthen the conviction of policymakers at the ECB that more stimulus is needed. 27th October 2015 · 1 min read
