Nordic & Swiss Economics Update Central bank actions push bond yields down In October, a combination of rising bond yields in the US and lower bond yields at home pushed Nordic and Swiss currencies down against the dollar. Weaker exchange rates, as well as decent economic... 30th October 2017 · 1 min read
Nordic & Swiss Economic Outlook Riksbank to move ahead of the pack Economic prospects for the Nordic and Swiss economies are fairly bright. Although Switzerland had a disappointing start to the year in terms of GDP growth, the surveys are universally positive about... 25th October 2017 · 1 min read
Nordic & Swiss Chart Pack Inflation pressures weak apart from in Sweden The inflation data for September suggest that underlying price pressures remained subdued in most of the Nordic and Swiss countries, apart from Sweden. 13th October 2017 · 1 min read
Europe Commercial Property Update Are Zurich office rents on the cusp of a revival? Economic and survey data suggest that prime office rents in Zurich may have finally found a floor. But with new developments and refurbishments equivalent to around 5% of current stock due to complete... 12th October 2017 · 1 min read
Nordic & Swiss Economics Update How will the SNB respond to ECB tapering? The Swiss National Bank will surely welcome the likely announcement later this month by the European Central Bank that it will wind up its asset purchase programme next year. This will probably help... 5th October 2017 · 1 min read
Nordic & Swiss Data Response Swiss CPI (Sep.) & Swedish Industrial Prod. (Aug.) The rise in Swiss headline inflation in September will be welcomed by the Swiss National Bank, but subdued price pressures mean we expect the SNB to keep rates on hold until 2020. Elsewhere, Swedish... 5th October 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Sep.) September’s Swiss and Swedish manufacturing PMIs both rose to high levels. But while fairly strong growth is unlikely to push inflation up in Switzerland, price pressures are mounting in Sweden. 2nd October 2017 · 1 min read
Nordic & Swiss Economics Update Government collapse triggers Icelandic market sell-off Bond yields across the Nordic and Swiss economies rose in September, largely in line with global trends as investors brought forward their expectations for monetary policy normalisation by the US Fed... 29th September 2017 · 1 min read
Nordic & Swiss Data Response Swiss KOF (Sep.) & Danish GDP (Q2, 2nd estimate) September’s rebound in the Swiss KOF Economic Barometer leaves it consistent with a pick-up in annual GDP growth to around 2%. But the KOF has overstated growth recently and, in any case, inflation... 29th September 2017 · 1 min read
Nordic & Swiss Economics Update Will Switzerland’s economic recovery restart? In light of the disappointing performance of the Swiss economy in the first half of the year, we have revised down our 2017 GDP forecast substantially. We still expect the economic recovery to gain... 22nd September 2017 · 1 min read
Nordic & Swiss Economics Update SNB language tweaks don’t signal policy shift The Swiss National Bank today acknowledged the depreciation of the franc over recent months but stressed that it was still necessary to keep interest rates at rock-bottom levels and maintain the... 14th September 2017 · 1 min read
Nordic & Swiss Chart Pack Q2 GDP data a mixed bag, but timelier data look strong The Q2 GDP data for the Nordic and Swiss economies were a mixed bag, but more timely indicators point to a strong second half of the year. 13th September 2017 · 1 min read
Nordic & Swiss Central Bank Watch SNB to stick to dovish script despite franc’s fall At its meeting on 14th September, the Swiss National Bank will surely draw some comfort from the depreciation of the franc since it last met in June. But renewed geopolitical tensions and the ECB’s... 7th September 2017 · 1 min read
Nordic & Swiss Data Response Swiss GDP (Q2) & Consumer Prices (Aug.) Switzerland’s Q2 GDP release confirmed that the economy expanded only very slowly in the first half of the year. While survey indicators suggest that growth will pick up, subdued inflation will keep... 5th September 2017 · 1 min read
Nordic & Swiss Economics Update Nordic and Swiss bond yields decline Bond yields in most Nordic and Swiss markets fell in August, matching global trends. Currencies recorded mixed performances against the euro, with the Swiss franc depreciating while the Swedish krona... 1st September 2017 · 1 min read
Nordic & Swiss Data Response Manufacturing PMIs (Aug.) & Finnish GDP (Q2) August’s manufacturing PMIs pointed to continued recoveries in Switzerland and Norway, but the Swedish index weakened significantly. That said, with other indicators suggesting that the Swedish... 1st September 2017 · 1 min read
