Silicon Valley Bank failure raises fear of broader financial contagion “The circumstances of the Silicon Valley Bank (SVB) collapse are unique enough that it probably won’t trigger a widespread financial contagion. Nevertheless, it is a timely reminder that when the Fed... 12th March 2023 · Washington Post
US Economics Update SVB collapse a reminder of financial risks The circumstances of the Silicon Valley Bank (SVB) collapse are unique enough that it probably won’t trigger a widespread financial contagion. Nevertheless, it is a timely reminder that when the Fed... 10th March 2023 · 3 mins read
Capital Daily Taking stock of the plunge in bond yields US government bond yields have tumbled over the past day or so amid evidence of wage pressures easing in the February US Employment Report and concerns over banking sector risks. As thing stand, we... 10th March 2023 · 7 mins read
US Commercial Property Update West Coast ports to rally while Houston stands resilient Failed dockworker union negotiations on the West Coast have led to further diversion of US imports toward the East and Gulf Coasts, supporting warehousing demand in those markets for longer than... 10th March 2023 · 3 mins read
US Economics Weekly Financial risks could spoil Powell's hawkish plans Despite the strength of payrolls last month, the rest of February's labour market data was more mixed - with the unemployment rate rebounding and a smaller monthly gain in average hourly earnings. The... 10th March 2023 · 9 mins read
US Data Response US Employment Report (Feb.) The above-consensus 311,000 increase in payroll employment last month confirms that the super-sized 504,000 gain in January wasn’t just a seasonal distortion, but the rest of February’s report will... 10th March 2023 · 2 mins read
UK Economics Weekly Slimming the size of the possible recession With the hit to real activity from high inflation having been and gone and mostly absorbed by government handouts and a real terms reduction in households’ pandemic savings, we no longer think there... 10th March 2023 · 7 mins read
UK Data Response Monthly GDP & Trade (Jan.) The 0.3% m/m rise in real GDP in January (consensus +0.1% m/m, CE +0.4% m/m) will raise hopes that the economy will escape a recession in 2023 and will increase calls for the Chancellor to splash the... 10th March 2023 · 4 mins read
Australia & New Zealand Economics Weekly The RBA won’t hit pause just yet RBA Governor Phil Lowe’s statement that the Board was closer to a pause was interpreted by financial markets as a marginally dovish signal. However, with inflation yet to fall in earnest and the... 10th March 2023 · 6 mins read
Nordic & Swiss Data Response Norway Consumer Prices (Feb.) February’s decline in headline and core inflation takes some of the pressure off the Norges Bank and means that it is likely to hike by 25bp at the meeting in two weeks’ time. 10th March 2023 · 2 mins read
Japan Economics Update BoJ will probably end Yield Curve Control in April The Bank of Japan didn’t make any policy changes at Governor Kuroda’s last meeting today but we expect incoming Governor Ueda to abandon Yield Curve Control in April. 10th March 2023 · 3 mins read
