Nordic & Swiss Economics Weekly Sweden’s election dead heat no big deal for Riksbank Political uncertainty following Sweden’s general election last weekend is unlikely to meaningfully alter the Riksbank’s plans to start tightening policy around the turn of the year. Meanwhile, in... 14th September 2018 · 1 min read
Nordic & Swiss Economics Weekly Swedish election not a game-changer The latest opinion polls suggests that Sunday’s general election in Sweden will be a close call. But the outcome of the vote is unlikely to significantly alter the outlook for the economy or monetary... 7th September 2018 · 1 min read
Non-Euro Europe Commercial Property Outlook Structural changes favour the industrial sector Rates of rental and capital value growth are set to slow in Scandinavia and Switzerland, but Copenhagen industrial property still looks attractive. Total returns will be higher in Emerging Europe... 7th September 2018 · 1 min read
Nordic & Swiss Economics Weekly Swiss franc strength unlikely to last The Swiss franc has strengthened against the euro this week, but we doubt that this will last. Meanwhile, we think that Sweden’s forthcoming general election is unlikely to have much of a... 31st August 2018 · 1 min read
Nordic & Swiss Data Response Finland & Denmark GDP (Q2) Denmark had a weak first half of the year, but timelier evidence points to slightly faster growth in Q3. Meanwhile, Finland’s economy continues to perform well. 31st August 2018 · 1 min read
Europe Commercial Property Update Helsinki returns slowing, but still above the pack In the middle of last year, Helsinki offices stood out as a strong late-cycle play. But with the positive yield gap to Stockholm now closed, that opportunity has passed. Nevertheless, in the absence... 29th August 2018 · 1 min read
Nordic & Swiss Economics Weekly New franc forecasts, Swedish election heats up The upward pressure on the Swiss franc eased this week and our forecasts for monetary policy in Switzerland suggest that the currency will continue to depreciate against the euro over the next couple... 24th August 2018 · 1 min read
Nordic & Swiss Economics Weekly Franc strength in focus, Norges Bank signals rate rise The further appreciation of the franc this week strengthens our view that the SNB will be very cautious about policy tightening, keeping rates on hold until 2020. Meanwhile, with inflationary... 17th August 2018 · 1 min read
Nordic & Swiss Chart Pack Soft inflation won’t stop rate rises in Sweden, Norway The latest inflation data in Switzerland and the Nordic economies show that underlying inflation is fairly low. But we doubt that this will stop the Norges Bank or Riksbank from raising interest rates... 16th August 2018 · 1 min read
Nordic & Swiss Economics Weekly SNB won’t welcome franc’s safe haven boost The renewed appreciation of the Swiss franc this week as investors sought out safe haven assets will not have been welcomed by the SNB. But the franc is still weaker than it has been over the past few... 10th August 2018 · 1 min read
Nordic & Swiss Economics Weekly PMIs point to decent start to Q3 July’s PMIs for the Nordic and Swiss countries, which were published this week, suggest that these countries continued their strong performance at the start of Q3. Swiss inflation data released... 3rd August 2018 · 1 min read
Nordic & Swiss Economics Update Flatter yield curves not a cause for concern Government bond yield curves in the Nordics and Switzerland have flattened this year, but we doubt that this signals that recessions are imminent in any of these economies. 25th July 2018 · 1 min read
Nordic & Swiss Chart Pack A mixed month for financial markets Swiss and Nordic financial markets have been a mixed bag over the past month. Equities in most countries have risen, supported by continued fairly strong economic growth. But equities in Norway and... 24th July 2018 · 1 min read
Nordic & Swiss Economic Outlook SNB lagging behind in the monetary tightening cycle Economic growth in Switzerland and across the Nordics looks set to remain pretty strong over the coming years. But inflationary pressures vary significantly between countries. We think that central... 20th July 2018 · 1 min read
Nordic & Swiss Economics Weekly Riksbank hawkish, Norwegian housing recovering The main event this week was the Riksbank meeting , at which the Bank reiterated that it expected to raise interest rates in December. And data released since the meeting support the case for the... 6th July 2018 · 1 min read
Nordic & Swiss Economics Weekly SNB dovish, Norges Bank hawkish, Sweden ETI strong This week’s quarterly policy statement from the Swiss National Bank strengthened our view that tighter monetary policy in Switzerland is a long way off. By contrast, higher interest rates are imminent... 22nd June 2018 · 1 min read
