Since our last Analyst, the greatest change has been to our yield forecasts, which are now expected to decline further than previously expected in the next couple of years. We also envisage them staying at these low levels for longer. However, by 2019 we expect Western European yields to begin to tick up, as the yield gap over bonds diminishes. This will weigh on capital values towards the back-end of the forecast period, particularly in the Western European markets.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services