Australia & New Zealand Rapid Response Australia Labour Market (Mar. 23) 13th April 2023 · 2 mins read
UK Housing Market Data Response RICS Residential Market Survey (Mar.) The marginal improvement in the headline prices paid and new buyer enquiries balance of the RICS Residential Survey did not alter the overarching message that prices are falling and sales slumping. 13th April 2023 · 3 mins read
Canada Economics Update Bank of Canada delivers mixed messages The Bank of Canada delivered a mixed message today, noting that it is more confident inflation will decline in the next few months, but less confident that inflation will fall all the way to 2.0% as... 12th April 2023 · 3 mins read
US Commercial Property Apartment Metros Outlook Capital values to fall 25% in San Fran, Seattle and D.C. We expect a surge in completions and a slowdown in employment growth to push vacancy substantially higher in all markets over the next few years. That will slam the brakes on rental growth, causing an... 12th April 2023 · 13 mins read
US Data Response Consumer Prices (Mar.) There were some encouraging signs in the March CPI report, including the first evidence that shelter inflation is slowing, but core prices still increased by 0.4% m/m which, on an annualised basis, is... 12th April 2023 · 3 mins read
Japan Chart Pack Governor Ueda to cull YCC as his first act Japan has escaped the recent banking turmoil in the US and Switzerland relatively unscathed. While banks face some risks arising from their lending exposure overseas, there are no signs of liquidity... 12th April 2023 · 11 mins read
Japan Data Response Japan Machinery Orders (Feb. 2023) The fall in “core” machinery orders in February is another bearish signal on business investment last quarter. Domestic machine tool orders suggest a further fall in March, but even if “core”... 12th April 2023 · 2 mins read
Australia & New Zealand Economics Focus Housing rebound doesn’t look sustainable House prices rebounded in March but we aren’t convinced that this marks the beginning of a sustained rebound. Affordability is set to become the most stretched since the early 90s and if the... 11th April 2023 · 14 mins read
Japan Data Response Japan Economy Watchers Survey (Mar. 2023) Both the current and outlook readings in March hit their highest in more than a year, capping off a strong first quarter for the EWS. This is another sign that private consumption remained resilient... 10th April 2023 · 2 mins read
US Economics Weekly MMFs: where liquidity goes to die The surge in interest rates over the past 12 months has encouraged an outflow of deposits from the banking system into money market mutual funds but, unfortunately, those funds are not recycling any... 7th April 2023 · 10 mins read
US Data Response Employment Report (Mar.) The 236,000 gain in non-farm payrolls in March adds to the evidence that the economy’s strong start to the year was partly weather related, with momentum fading again. With the sharp fall in job... 7th April 2023 · 2 mins read
