DM Markets Chart Pack Prospect of QE3 whets investors' appetite The prospect of further unconventional policy stimulus from the Fed and a summer lull in the euro-zone crisis supported risky assets in August. Nonetheless, we expect any extra boost to prices from... 3rd September 2012 · 1 min read
ECB Watch Bond purchases on hold, but other measures possible We expect the ECB to disappoint markets this week with its plans for peripheral government bond purchases. President Mario Draghi is likely to state that such purchases will be limited and that they... 30th August 2012 · 1 min read
Emerging Europe Economics Update Turkish monetary shift signals bank FX concerns In the past few months, the Turkish central bank has added to its policy toolkit by allowing banks to hold foreign currencies and gold in place of lira as required reserves for their lira liabilities... 29th August 2012 · 1 min read
Commodities Update Talk of return to Gold Standard to come to nothing Reports that the Republican Party will call for the establishment of a commission to examine the case for restoring the link between the dollar and gold may be another positive for the price of the... 24th August 2012 · 1 min read
UK Markets Outlook Lacklustre growth to weigh on UK assets While UK equity and gilt prices have both increased over the last few months, we doubt that further significant price rises are likely over the coming quarters. Equities seem destined to struggle as... 23rd August 2012 · 1 min read
Latin America Economic Outlook Dragged down by weaker global economy The next 12 months are shaping up to be the most challenging since the 2008-09 global financial crisis for Latin America. A combination of weaker external demand, falling commodity prices and tighter... 21st August 2012 · 1 min read
Emerging Europe Economics Update Next big move for the ruble will be down The ruble has been on a rollercoaster ride of late, falling by 10% against its dollar/euro basket in May, before clawing back around 5% of its losses over the past few weeks. If nothing else, this... 17th August 2012 · 1 min read
Latin America Economics Update FX intervention back on the agenda as industry struggles Barely three months have passed since a bout of global market jitters sent policymakers scrambling to protect their currencies, but in some countries the pendulum has already swung back towards... 15th August 2012 · 1 min read
Canada Economics Update Rebound in Canadian dollar won't last We doubt that the recent rally in the Canadian dollar to above parity against its US counterpart will last. Admittedly, the safe haven status of the currency may continue to support it in the near... 13th August 2012 · 1 min read
Emerging Europe Economics Update Romanian political tensions put FX reserve buffers at risk The National Bank of Romania (NBR) appears to have stepped up intervention in the FX market to defend the leu following the recent bout of political turmoil. For now, FX reserve coverage looks... 13th August 2012 · 1 min read
Middle East & North Africa Economics Update Egypt: devaluation back on investors’ agenda Today’s data from the Central Bank of Egypt (CBE) showing that foreign currency reserves fell in July serve as a reminder that devaluation of the pound remains a real and likely prospect. 7th August 2012 · 1 min read
UK Economic Outlook Real pay finally to start rising Real pay is finally about to start rising again. But the need for households to repair their balance sheets will keep the recovery in consumer spending modest. 6th August 2012 · 1 min read
DM Markets Chart Pack Nominal bonds yields turn negative The ten year Bund yield fell by about 30bp in July, almost fully reversing the rise seen in June. The decrease reflected a fresh intra-euro-zone “flight-to-safety” as ten year government bond yields... 6th August 2012 · 1 min read
Europe Economics Update Why Latvia is not a blueprint for the euro-zone's periphery Despite the fact that Latvia’s economy has returned to growth, it is still far from clear that it has undergone the necessary “internal devaluation” required to fully restore competitiveness. What’s... 1st August 2012 · 1 min read
Latin America Economics Update Recession bites as Argentina's 'model' begins to unravel The economic outlook for Argentina just keeps getting worse. Not only do we think that the country fell into a recession in Q2 but, judging by the extent of the recent slowdown, it now appears... 31st July 2012 · 1 min read
Latin America Economics Update Recession bites as Argentina's 'model' begins to unravel The economic outlook for Argentina just keeps getting worse. Not only do we think that the country fell into a recession in Q2 but, judging by the extent of the recent slowdown, it now appears... 31st July 2012 · 1 min read
