Asia Economic Outlook Weak global demand to hamper growth Compared with other emerging regions, Asia is relatively well placed to withstand sluggish global growth. For one thing, policymakers have the ability and willingness to significantly loosen monetary... 26th July 2012 · 1 min read
Global Markets Outlook Second half to be as tough as the first We doubt a third round of quantitative easing from the Fed would whet investors’ appetite for risk. After all, the US profit cycle may be turning a corner, the global economy is slowing and the euro... 26th July 2012 · 1 min read
US Housing Market Data Response New Home Sales (Jun.) The 8.4% m/m fall in new home sales in June was further evidence that the recovery in housing demand has lost a little momentum. But with supply conditions in the market for new homes still tight... 25th July 2012 · 1 min read
Canada Economics Update Is the housing market enjoying a soft landing? Housing activity is cooling and if this trend continues, as we expect, the typical lag times between activity and prices suggest that house prices might begin to decline outright next year. Given the... 25th July 2012 · 1 min read
US Fed Watch Economy not weak enough to trigger QE3 next week As it stands at the moment, the incoming news has probably not been quite weak enough to prompt the Fed into providing more policy stimulus, such as a third round of asset purchases (QE3), at the... 25th July 2012 · 1 min read
Emerging Europe Economics Update Russia: Q2 slowdown a sign of things to come Today’s Q2 economic report by the Russian Ministry of Economy confirmed an earlier forecast that GDP grew by 3.9% y/y in the second quarter, down from 4.9% y/y in Q1. We fear the slowdown may be a... 25th July 2012 · 1 min read
Japan Economics Update Threat of FX intervention building Japan’s merchandise trade figures, released today, showed a reduction in the seasonally-adjusted deficit in June, but the country remains firmly on course to end the year in the red. At the same time... 25th July 2012 · 1 min read
Europe Economics Focus How large a devaluation do the peripheral economies need? We think that some of the peripheral euro-zone economies may need their real exchange rates to fall by as much as 40% to regain competitiveness and kick start a period of export driven growth... 25th July 2012 · 1 min read
Europe Economics Update Weaker currency won't save the euro-zone While the depreciation of the euro exchange rate is a helpful development for the euro-zone economy, suggestions that it alone can save the currency union look very hopeful. 25th July 2012 · 1 min read
UK Commercial Property Chart Pack Capital values fall a further 0.5% in June Driven by higher yields, all-property capital values fell by 0.5% in June, the second successive decline of that magnitude. The cumulative price falls from October’s peak now stand at 2.1%. 25th July 2012 · 1 min read
UK Data Response Provisional GDP (Q2 12) The UK fell deeper into recession in the second quarter. Although some temporary factors pulled down output, it looks like there was some underlying contraction too. Even allowing for a decent bounce... 25th July 2012 · 1 min read
Europe Data Response German Ifo Survey (Jul.) July’s Ifo index will add to the growing concerns over the health of the German economy and the outlook for the country’s credit rating. 25th July 2012 · 1 min read
Middle East & North Africa Economics Update Egypt’s new Prime Minister won’t ease market fears The surprising appointment of Dr. Hisham Kandil as Egypt’s new Prime Minister is unlikely to calm nerves in the financial markets. For a start, he lacks the economic credentials that some were hoping... 24th July 2012 · 1 min read
Canada Data Response Retail Sales (May) May's 0.7% m/m rebound in retail sales volumes, paired with last week's positive wholesale and manufacturing volumes figures, indicate that monthly GDP grew by 0.2% m/m in May, slightly stronger than... 24th July 2012 · 1 min read
