EM Markets Chart Pack Investors’ appetite returns, but is fussy Despite the crisis in Ukraine, which has hit some currencies and assets in Emerging Europe hard, there are signs that investors are rediscovering an appetite for investing in selected emerging markets... 12th March 2014 · 1 min read
DM Markets Chart Pack Italy’s and Spain’s sovereign credit spreads fall further 10-year government bond yields in Italy and Spain continued to decline in February. Admittedly, yield spreads over 10-year German Bunds seem reasonable given the countries’ current sovereign credit... 6th March 2014 · 1 min read
Europe Chart Pack Euro-zone consumers yet to join the recovery While euro-zone activity indicators suggest that the region’s recovery has picked up speed a bit in the early months of 2014, growth remains worryingly unbalanced. For now, exporters appear to be... 5th March 2014 · 1 min read
Global Markets Update What will be the wider fallout from conflict in Ukraine? The crisis in Ukraine has the potential to have a further significant and prolonged impact on global financial markets, even though our current judgement is that the fallout is likely to be short... 3rd March 2014 · 1 min read
Japan Economics Weekly Competitive gains from weak yen fail to materialise Despite the sharp fall in the yen since 2012, Japanese exporters lost global market share last year. Rising costs and a sluggish world economy have played a part and both factors should fade in... 3rd March 2014 · 1 min read
China Economics Update Renminbi hit by a policy wave The People’s Bank (PBC) dropped a large rock into the usually tranquil waters of China’s currency policy in February. Its attempt to reduce speculative inflows caused the largest single-month decline... 28th February 2014 · 1 min read
Emerging Europe Economics Update Taking stock of the recent drop in the ruble Events in Ukraine have been one factor behind the fall in the Russian ruble, but domestic problems have played a role too. The central bank (CBR) has already voiced its concern that exchange rate... 28th February 2014 · 1 min read
Africa Chart Pack EM turbulence spreads to Africa The turmoil in EM financial markets over the past six months has spread to a number of economies in sub-Saharan Africa (SSA), taking some of the gloss off the region’s upbeat growth story in the... 27th February 2014 · 1 min read
UK Markets Outlook Monetary policy to remain a support for asset prices We doubt that UK asset prices will be undermined significantly by the onset of tighter monetary policy in the UK or overseas. Admittedly, history suggests otherwise – the global monetary tightening... 27th February 2014 · 1 min read
Asia Economics Update Asian currencies rebound, rupiah leads the way Following sharp falls in January, Asian currencies and equity markets have rebounded over the past month. Meanwhile, government bond yields have been broadly flat. 27th February 2014 · 1 min read
Nordic & Swiss Data Response Swiss GDP (Q4 13) While Q4’s Swiss GDP figures were a bit disappointing, they do not suggest that the economy is succumbing to the strength of the exchange rate. 27th February 2014 · 1 min read
China Economics Update Wider currency band is not the goal A widening of the renminbi’s trading band is likely soon. But it would be wrong to think of such a shift as the main motivation for the currency’s recent moves. Indeed, a wider currency band would not... 26th February 2014 · 1 min read
Global Markets Update Weaker euro should help euro-zone equities to outperform One development that is likely to cap future rises in long-term government bond yields in some of the major advanced economies is the persistence of exceptionally loose monetary policy. But this is... 26th February 2014 · 1 min read
Latin America Economics Update Calm returns to Lat. Am. markets Following the turmoil experienced during the first few weeks of this year, financial markets across much of Latin America have stabilised over the past month. In most countries, bond yields have... 25th February 2014 · 1 min read
China Economics Update More volatility ahead for the renminbi The recent abrupt fall in the renminbi is best seen as a salvo in a battle between policymakers who believe that China’s currency is close to its fair value and market participants who don’t... 25th February 2014 · 1 min read
Asia Economics Weekly India and Indonesia – not so fragile? After coming through the latest bout of market turmoil with surprising resilience, it could be time for Indonesia and India to hand in their membership of the so-called ”Fragile Five”. Importantly... 24th February 2014 · 1 min read
