Australia & New Zealand Data Response Australia Labour Market (Nov. 22) With employment jumping in November, the labour market is still tightening, The upshot is that the RBA will hike rates more sharply than most anticipate over the coming months 15th December 2022 · 3 mins read
Japan Data Response Japan External Trade (Nov. 2022) While the trade deficit narrowed sharply in November, most of that reflects falling import prices. Export volumes seem to hold up well but with the global downturn weighing on external demand next... 15th December 2022 · 2 mins read
Australia & New Zealand Rapid Response Australia Labour Market (Nov. 22) 15th December 2022 · 2 mins read
Australia & New Zealand Data Response New Zealand GDP (Q3 22) The huge jump in Q3 GDP will prompt the Reserve Bank of New Zealand to press ahead with another 75bp hike in February, adding to our conviction that a recession lies ahead. 14th December 2022 · 2 mins read
UK Commercial Property Update Regional office market rents to outperform London Office rental growth in London and RoUK was similar in the third quarter. But as the recession takes hold London firms will have a greater incentive, and opportunity, to make savings from the shift to... 14th December 2022 · 3 mins read
US Housing Market Chart Pack Sales to remain weak, despite fall in mortgage rates A fall in mortgage rates from 20-year highs supported the first rise in home purchase demand in eight months in November. Given that mortgage rates are likely to continue to trend lower from here... 14th December 2022 · 10 mins read
Canada Data Response Manufacturing Sales (Oct.) The strong rise in manufacturing sales in October was largely due to a jump in refined petroleum prices. Manufacturing sales volumes were unchanged and the business surveys point to outright falls... 14th December 2022 · 2 mins read
UK Data Response Inflation has peaked, but how far will it fall? The Bank of England can breathe a sigh of relief knowing that CPI inflation has peaked. But with activity holding up and wage growth still strengthening, the 2.0% inflation target is still a long way... 14th December 2022 · 3 mins read
Nordic & Swiss Data Response Sweden Consumer Prices (Nov.) The increase in Sweden’s measure of core inflation to 8.0% was a touch below expectations but it still marks a new 31-year high. With CPIF inflation having risen to well above the Riksbank’s recent... 14th December 2022 · 2 mins read
Japan Data Response Japan BoJ Tankan (Q4 2022) & Machinery Orders (Oct. 2022) Today’s Tankan survey suggests that while the services sector is going from strength to strength, the outlook for the manufacturing sector continues to worsen. Meanwhile, machinery orders were flat in... 14th December 2022 · 3 mins read
Japan Rapid Response Japan BoJ Tankan (Q4 22) & Machinery Orders (Oct. 22) 14th December 2022 · 2 mins read
US Commercial Property Update Blackstone and Starwood symptoms rather than causes On the face of it, the news of unlisted REITs reaching redemptions limits suggests cause for concern as it could point to forced sales over the coming months. However, both BREIT and SREIT have solid... 13th December 2022 · 3 mins read
Capital Daily We don’t think US disinflation will prevent a drop in US equities The weaker US inflation data released today have bolstered our view that Treasury yields will drop a bit between now and the end of next year. But we still think that growing fears of a recession will... 13th December 2022 · 6 mins read
