Europe Economics Weekly Christine Lagarde’s wishful thinking on AI This week’s inflation data and ECB decision were in line with expectations. In this Weekly we take a look at Christine Lagarde’s claim that there is a significant AI-related pick-up in investment in... 6th February 2026 · 5 mins read
US Economics Update AI already making a big contribution to productivity growth The further gains in GDP in the ICT industries in the third quarter, despite another fall in employment, is a clear sign to us that AI is boosting productivity. While other factors help to explain the... 5th February 2026 · 4 mins read
Global Commercial Property Update The impact of AI on commercial property returns By raising overall occupier demand, commercial real estate should benefit from the boost to economic growth that AI will provide. But some sectors will face challenges, particularly during the... 27th January 2026 · 5 mins read
US Commercial Property Update Why have data center REIT prices and asset values diverged? The divergence between data center REIT performance and data center asset values over the last year appears to reflect the high level of uncertainty in the sector. Questions over power constraints... 22nd January 2026 · 4 mins read
Asia Economics Weekly Taiwan: US trade deal and TSMC earnings add to optimism The trade deal struck between Taiwan and the US, alongside another bumper earnings report from TSMC, strengthens our conviction that Taiwan will record another year of rapid GDP growth in 2026. 16th January 2026 · 8 mins read
China Economics Focus China’s AI rollout could rival the US One year on from DeepSeek’s breakthrough, Chinese AI is still hot on the heels of US tech. Despite hardware constraints, China looks set to remain close to the frontier of AI development. And China... 14th January 2026 · 31 mins read
Global Economics Focus How tariffs are (and are not) reshaping world trade This Focus answers 10 questions about the tariff state of play, how trade flows are changing, and whether the resilience of world trade will last. Beyond our conclusion that trade will continue to... 14th January 2026 · 25 mins read
China Economics Weekly Beijing to continue insulating domestic chipmakers Beijing's guidance to Chinese firms to stop placing orders for H200 chips is unlikely to reflect an outright ban. Instead, China's leadership looks to be pausing orders as it tries to regulate imports... 9th January 2026 · 6 mins read
Commodities Update Copper: the euphoria will disappoint Although supply concerns are still present, the most recent surge in copper prices seems to be some spillover from exuberance in other corners of commodity markets. Looking ahead, we suspect that... 7th January 2026 · 4 mins read
Japan Economics Update Has Japan become a leading ICT economy? While Japanese firms seem to be investing more in information & communication technology than those in almost any other advanced economy, broader measures suggest that the country is not a leading... 6th January 2026 · 3 mins read
Equities Update A closer look at the tech boom in EM equities In our view, the AI bubble in emerging Market (EM) equities, which drove much of this year’s rally, hasn’t burst yet and could inflate further next year. And while large valuation gaps vis-à-vis the... 19th December 2025 · 4 mins read
US Economic Outlook AI investment boom to power economy We are increasingly confident that the surge in AI-related investment this year marks the start of a multi-year capex boom. Even allowing for ongoing labour market softness that will weigh on... 18th December 2025 · 16 mins read
Capital Daily Would an end to the AI boom drag down EM equities? Although emerging market equities are, in some places, very heavily exposed to the AI boom, we think they would in aggregate hold up better than those in the US if that boom continued to unwind. 17th December 2025 · 4 mins read
China Economics Weekly AI infrastructure buildout to ramp up next year While China has remained hot on the heels of the US this year when it comes to AI model development, insufficient chip supply means it has lagged in the construction of the data centres that will be... 12th December 2025 · 6 mins read
Global Economics Update Should central banks do more about the "AI bubble"? Concerns about a stock market bubble are unlikely to dictate central banks’ interest rate decisions in the near term. It’s difficult to call a bubble and even harder to manipulate stock markets... 10th December 2025 · 3 mins read
