US Economics Weekly Fed not yet joining markets’ hawkish shift After a relatively cautious speech at Jackson Hole from Fed Chair Jerome Powell and data this week which cast doubt on the idea of an economic resurgence, we still aren’t convinced that the rise in... 25th August 2023 · 7 mins read
Canada Economics Weekly Wildfires weighing on growth The worst Canadian wildfires on record appear to be behind much of the recent weakness in GDP and, with more areas now under evacuation orders, the data are likely to remain weak in the coming months. 25th August 2023 · 6 mins read
US Rapid Response Fed Chair Powell at Jackson Hole Fed Chair Jerome Powell underscored the FOMC’s commitment to data dependence in his Jackson Hole speech today, but there was no suggestion that signs of economic resilience have already prompted Fed... 25th August 2023 · 2 mins read
US Commercial Property Valuation Monitor US Commercial Property Valuation Monitor (Q3 2023) Property yields rose across all sectors in Q2. However, for the retail sector this was offset by rises in the 10-year treasury yield. Consequently retail saw a small decline in valuations, whereas... 25th August 2023 · 1 min read
Canada Chart Pack Canada Chart Pack (Aug. 2023) Our Canada Chart Pack has been updated with the latest data and our analysis of recent developments. Strong immigration and the turnaround in the housing market raise the chance that the economy will... 25th August 2023 · 1 min read
UK Economics Weekly Interest rate medicine is starting to work The phasing out of the government's support packages and the growing drag from higher interest rates probably explain why the economy appears to have lost momentum in recent months. Since these drags... 25th August 2023 · 4 mins read
UK Housing Market Chart Pack UK Housing Market Chart Pack (Aug. 2023) This new Chart Pack has been designed to replace our Chart Book in response to client feedback to make our insights more accessible, and with more options to incorporate them into your workflow. Use... 25th August 2023 · 1 min read
Japan Economics Weekly Case for policy rate hikes still not strong enough The inflation data released this week show that underlying inflation remains stubbornly high. However, with wages still not rising fast enough for the Bank of Japan's liking and the momentum of... 25th August 2023 · 7 mins read
Australia & New Zealand Economics Weekly Storm clouds gather over the economic outlook New Zealand’s retail sales fell for a third consecutive quarter in Q2, as households continued to tighten their belts. What’s more, the sharp drop in heavy traffic volumes in July suggests that goods... 25th August 2023 · 6 mins read
US Employment Report Preview Jobs growth slowing towards pre-pandemic pace We forecast a 170,000 increase in non-farm payrolls in August, illustrating that despite the apparent resilience of GDP growth, employment growth is still trending lower. 24th August 2023 · 3 mins read
UK Housing Market Update Flat prices likely to outperform Having risen in value by much less than houses over the past three years, flats were selling at the biggest discount to houses on record at the beginning of the year. But higher mortgage costs are... 24th August 2023 · 2 mins read
US Commercial Property Chart Pack US Commercial Property Chart Pack (Q3 2023) All-property values are down by 10% from their mid-2022 peaks, but we think there is still another 15% to come by the end of 2024. Much of that price fall will be driven by a rise in cap rates in... 23rd August 2023 · 1 min read
Canada Economics Update What explains the resilience of economic growth? GDP in those sectors normally most sensitive to interest rates has weakened over the past year and is now well below the pre-pandemic trend. The resilience of overall economic growth to higher... 23rd August 2023 · 5 mins read
