Canada Economics Update Bank puts up high bar for 50bp cut Following its third consecutive 25bp interest rate cut today, the communications from the Bank of Canada reiterated that further cuts are likely. We expect 25 bp cuts at the final two meetings this... 4th September 2024 · 2 mins read
US Commercial Property Update Dallas tops our updated rankings of 34 industrial markets The dynamism of the industrial sector means that market-level outperformance is often only achievable for short periods, because either relative value deteriorates or new supply quickly completes... 4th September 2024 · 4 mins read
Canada Rapid Response Bank of Canada Policy Announcement (Sep. 2024) Following its third consecutive 25bp interest rate cut today, the communications from the Bank of Canada reiterated that further interest rate cuts are likely. The tone of the communications was less... 4th September 2024 · 2 mins read
US Rapid Response International Trade (Jul. 2024) The July trade data suggest that net trade will weigh on third-quarter GDP growth, but that is hardly cause for concern when it reflects the continued strength of imports, painting a better picture of... 4th September 2024 · 1 min read
Canada Rapid Response Canada International Trade (Jul. 2024) The improvement in the goods trade balance in July was for the wrong reasons, with a fall in imports outpacing a decline in exports. The weakness was due to sharp declines in motor vehicle trade... 4th September 2024 · 2 mins read
US Housing Market Rapid Response Mortgage Applications (Aug. 2024) The drop in home purchase mortgage applications in August is surprising given the sharp fall in mortgage rates the month before. Some would-be buyers may be delaying their purchases due to increased... 4th September 2024 · 2 mins read
Australia & New Zealand Rapid Response Australia GDP (Q2 2024) Although activity likely bottomed out last quarter, the ongoing weakness in private demand raises the risk that the RBA will cut rates sooner rather than later. 4th September 2024 · 3 mins read
US Commercial Property Update Immigration will support largest multifamily markets While the headline-hitting surge in immigration last year was mainly driven by a spike in unauthorized movement, legal immigration has picked up from its pandemic lows, which is good news for many... 3rd September 2024 · 4 mins read
Global Economics Update PMIs point to further weakness in global industry The latest PMIs suggest that the outlook for global industry remains bleak, particularly in advanced economies. And although price pressures seem to have increased, we doubt that this marks the... 3rd September 2024 · 2 mins read
Capital Daily How does S&P 500 sector performance align with the ISM? A disappointingly small rebound in the headline index of the US ISM manufacturing survey for August appears to have put some relative pressure on cyclical sectors of the S&P 500 today, which is down... 3rd September 2024 · 4 mins read
US Rapid Response ISM Manufacturing Index (Aug. 2024) The ISM manufacturing index was essentially unchanged in August, leaving it consistent with manufacturing output and GDP growth losing momentum in the third quarter, and a sharp drop in the new orders... 3rd September 2024 · 2 mins read
Global Economics Update Green tech and chips will remain key battlegrounds Several advanced economies have raised tariffs on imports of green technologies and semiconductors from China to address their growing trade deficits in these goods and tackle a perceived strategic... 3rd September 2024 · 5 mins read
Japan Rapid Response Japan Labour Cash Earnings (July 24) While weaker growth in bonus payments weighed on overall wage growth, base pay rose by the most since 1992 in July and we think it will continue to surge in the coming months. The preliminary estimate... 3rd September 2024 · 2 mins read
Australia & New Zealand Economics Update Australia CoreLogic House Prices (Aug.) With transaction volumes moderating and inventory rising, we expect the Australian housing market to cool in months ahead. 2nd September 2024 · 2 mins read
US Economics Weekly Harris plans major tax hikes After unveiling plans to boost spending and cut taxes for the middle-class in a big speech a couple of weeks ago, Vice President Kamala Harris has quietly acknowledged since then that she intends to... 30th August 2024 · 7 mins read
Canada Economics Weekly Economy losing momentum Second-quarter GDP growth surprised to the upside of the Bank of Canada’s forecast, but the evidence that growth slowed sharply over the quarter suggests that third-quarter growth will be much weaker... 30th August 2024 · 6 mins read
