Europe Commercial Property Outlook Falling yields to bring an end to capital value declines in 2010 (Vol.1 2010) The euro-zone commercial property outlook improved markedly during the second half of 2009. It now seems probable that almost all markets will experience positive total returns in 2010, with Spain and... 4th January 2010 · 1 min read
Europe Economics Focus Will the euro-zone recovery spread to the domestic economy? While the euro-zone is benefiting from the improvement in global trade conditions, the big issue is whether this will translate into any lasting pick-up in the domestic economy. There are reasons for... 14th December 2009 · 1 min read
Europe Economics Update ECB starting to phase out unconventional support The ECB confirmed today that it is phasing out its emergency lending to banks, and perhaps a bit more quickly than had been expected. But the Bank is still downbeat about the economic outlook and we... 3rd December 2009 · 1 min read
ECB Watch Treading carefully The ECB will probably confirm at the forthcoming press conference that December’s provision of 12- month bank loans will be the last. Together with possible hints about phasing out 6-month lending... 26th November 2009 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Nov.) October’s euro-zone money supply figures provided few signs that the ECB’s unlimited provisions of liquidity are prompting any pick-up in broad money and bank lending. 26th November 2009 · 1 min read
Europe Economics Update ECB edging towards the exit The latest comments from the ECB suggest that it is edging slowly towards the policy stimulus exit. But the outstanding stock of central bank loans to ommercial banks will remain very high for some... 5th November 2009 · 1 min read
ECB Watch No hints of tighter policy The ECB will leave interest rates on hold at 1.0% at its November policy meeting and we do not expect it to announce any significant change in its policy of providing generous loans to the banking... 29th October 2009 · 1 min read
Europe Commercial Property Chart Pack Euro-zone investment market thawing out (Nov 09) The tightening of credit conditions in Europe may be coming to an end. Coupled with improved investor appetite, European property transactions are on the up. Signs of life are also emerging in some... 29th October 2009 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Oct.) There are still few signs that the ECB’s unlimited provision of liquidity to banks and improving conditions in the financial markets are prompting any pick-up in eurozone broad money and bank lending. 27th October 2009 · 1 min read
Europe Economics Update ECB still some way from the exit The ECB’s cautious tone in the press conference following its decision to leave interest rates on hold for the sixth consecutive month supports our view that any future tightening of policy conditions... 8th October 2009 · 1 min read
ECB Watch Maintaining a supportive stance The ECB will leave interest rates at 1.0% at its October policy meeting and is unlikely to signal any significant change in its supportive policy stance for the future. The Bank will probably argue... 1st October 2009 · 1 min read
Europe Economics Update Euro-zone Monetary Indicators Monitor (Sep.) Today’s broad money data revealed that there are still few signs that the ECB’s provision of unlimited liquidity to banks is boosting broad money and credit growth. 25th September 2009 · 1 min read
Europe Economics Update Car production to remain in the doldrums On the face of it, the surge in euro-zone new car sales over recent months seems like good news for the region’s beleaguered vehicle producers. Nonetheless, we doubt that this will prompt much of a... 16th September 2009 · 1 min read
Europe Commercial Property Update Euro-zone commercial property still looks pricey relative to equities The stock market rally has pushed the equity dividend yield down, making euro-zone commercial property look more attractive relative to equities, on one measure at least. However, the spread of the... 15th September 2009 · 1 min read
Europe Economics Update Euro-zone recovery will be slow but steady The clear improvement in indicators of domestic activity and an upward revision to our forecast for the US have prompted us to raise our projection for euro-zone GDP growth next year. The recovery is... 9th September 2009 · 1 min read
Europe Economics Update ECB signals policy tightening a long way off After leaving interest rates unchanged at 1.0%, the ECB once again underlined its reluctance to follow other central banks in implementing bolder unconventional measures. Nonetheless, any tightening... 3rd September 2009 · 1 min read
