Asset Allocation Chart Pack Odds look stacked against risky assets Aside from the US stock market – which is being propped up by a handful of big name stocks and a serious dose of AI fever – most risky assets have struggled over the past month or so. We don’t think... 1st June 2023 · 12 mins read
Europe Commercial Property Update CEE yields set to rise further In contrast to the deceleration across the rest of Europe, the rise in CEE yields in Q1 was bigger than in Q4, driven predominantly by the industrial sector. As the yield gap with the euro-zone is... 1st June 2023 · 3 mins read
UK Commercial Property Rapid Response Lending to Commercial Property (Apr.) 1st June 2023 · 1 min read
UK Housing Market Rapid Response Nationwide House Prices (May 23) House prices flattened off in May after a rise in April. But with mortgage rates now on their way back up we suspect that the stabilisation in prices over the last couple of months will soon give way... 1st June 2023 · 2 mins read
Australia & New Zealand Data Response Australia CoreLogic House Prices (May) With house prices having risen for the third month in a row, there is a growing risk to our view that the housing downturn has further to run. Nonetheless, with rising interest rates set to squeeze... 1st June 2023 · 4 mins read
US Commercial Property Rapid Response US Metro Employment (Apr.) Total employment growth reached a solid 0.7% 3m/3m on average in April for the second consecutive month, led by Boston, Las Vegas, Charlotte and Orlando. But for office-based jobs, the poor... 31st May 2023 · 2 mins read
Europe Commercial Property Valuation Monitor Valuations continue to improve but remain stretched European property valuations continued to improve in Q1 on the back of further increases in property yields as well as falls in government bond yields. Nonetheless, all office and industrial markets... 31st May 2023 · 5 mins read
UK Housing Market Update High immigration helps explain record rent rise High net immigration helps explain why rental growth accelerated to its fastest pace on record last year. Immigration won’t be as high this year, adding to the reasons to think that rental growth has... 30th May 2023 · 3 mins read
US Housing Market Data Response Case-Shiller/FHFA House Prices (Mar.) In line with the stronger-than-expected economic data releases at the start of the year, house prices proved resilient in March. But we expect the economy to weaken in the coming months, which will... 30th May 2023 · 3 mins read
UK Commercial Property Outlook Dogged inflation means more yield rises to come Higher-than-expected core inflation means interest rates are now set to be higher for longer and we still think the economy will enter a mild recession later this year. That’s not a great backdrop for... 30th May 2023 · 24 mins read
China Chart Pack Renminbi unlikely to revisit last year’s lows The renminbi strengthened sharply against the US dollar in response to China’s move away from zero-COVID. But the currency has since reversed much of those gains and is now approaching 7.10/$, its... 30th May 2023 · 12 mins read
US Commercial Property Valuation Monitor Valuation scores rise sharply, but there is more to come Our commercial property valuation scores rose sharply in Q1, suggesting that Q3 2022 was a trough in valuations. Office and retail sectors now look fairly valued. While we think retail values do not... 26th May 2023 · 5 mins read
China Economics Weekly Unfinished homes, chipmaking woes Detailed housing sales data show that worries about developers’ ability to complete projects continue to hamper demand. And despite some progress, the number of stalled projects remains very large... 26th May 2023 · 6 mins read
Europe Commercial Property Chart Pack Scandinavia & Switzerland: Yield surge cools As in the euro-zone, the rise in prime property yields in Scandinavia slowed sharply in Q1 after the surge in H2 2022. Along with decent gains in rents, where Oslo offices and industrial saw the... 26th May 2023 · 6 mins read
US Commercial Property Chart Pack Portland, San Francisco and Seattle off to a bad start Metro level data for Q1 2023 showed the slowdown in occupier demand was widespread, with no market consistently outperforming across the sectors in terms of absorption. While office and industrial... 24th May 2023 · 6 mins read
Europe Commercial Property Chart Pack Emerging Europe: Yield rises show no sign of easing In contrast to the rest of Europe, CEE yields not only rose, but increased more sharply in Q1 than the previous quarter. Strong rental growth cushioned the blow to all-property capital values, but... 24th May 2023 · 5 mins read
