US Commercial Property Update Nashville, Jacksonville and Austin top for remote workers Our updated remote worker preference scores again highlight Nashville as the most attractive metro for remote workers, while San Jose is the least attractive. The winners continue to be predominantly... 13th March 2024 · 5 mins read
US Fed Watch Better inflation data needed for June rate cut Data dependence will remain the order of the day at next week’s FOMC meeting, with Fed officials likely to leave their interest rate projections broadly unchanged and signal that they are still... 13th March 2024 · 8 mins read
Capital Daily Investors are right not to fret too much about inflation Stronger-than-expected US core CPI data did not trigger as big a reassessment in rate expectations as they did last month in financial markets, and we still forecast the Fed to start easing policy... 12th March 2024 · 5 mins read
US Economics Focus Reshoring still more myth than reality Although it has been a priority for the last three administrations, the reshoring of lost manufacturing jobs remains more myth than reality. There has been a significant boom in the construction of hi... 12th March 2024 · 11 mins read
US Rapid Response Consumer Prices (Feb.) The second consecutive 0.4% m/m increase in core CPI in February leaves Fed officials some way from attaining the “greater confidence” needed to begin cutting interest rates. The annual rate of core... 12th March 2024 · 2 mins read
Canada Economics Update Trump 2.0 poses new headwinds for Canada The key risk for Canada’s economy from the US presidential election is that a Trump administration could pull out of the USMCA, leaving Canada subject to any US import tariffs. To avoid that, Canada... 11th March 2024 · 5 mins read
Canada Economics Weekly Macklem leaves the door open for a June cut Governor Tiff Macklem dropped a hint this week that the Bank of Canada may be ready to cut rates by June. There was little in the data to dissuade the Bank, with unemployment rising and bankruptcies... 8th March 2024 · 4 mins read
US Economics Weekly Falling inflation still likely to prompt Fed cuts soon Fed Chair Jerome Powell’s congressional testimony struck a notably less hawkish tone than we have heard recently from some of his colleagues. And with the economic data this week providing little... 8th March 2024 · 8 mins read
Capital Daily Revisiting the link between US labour and stock markets Today’s favourable reaction in financial markets to February’s US Employment Report probably reflects the inflation-friendly news of softer-than-expected growth in average hourly earnings amid mixed... 8th March 2024 · 5 mins read
Canada Rapid Response Canada Labour Force Survey (Feb. 2024) The Bank of Canada will be relieved to see renewed labour market slack putting downward pressure on wage growth. While the Bank will need to see wage growth soften further before it pivots to rate... 8th March 2024 · 2 mins read
US Rapid Response US Employment Report (Feb. 2024) The 275,000 rise in non-farm payrolls in February may, at face value, add weight to the Fed’s view that there is no rush to start cutting interest rates, but the downward revisions to previous months’... 8th March 2024 · 3 mins read
Event Property Drop-In: US CRE Outlook – When’s the recovery? 1710860400 US commercial real estate prices may have fallen 15% from their peaks – led by a 30% plunge in office values – but this isn’t over.
US Rapid Response US International Trade (Jan. 2024) The January trade data point to a potentially larger drag on first-quarter GDP growth than we had assumed, albeit mainly because imports look to have been stronger than previously believed. 7th March 2024 · 2 mins read
US Economics Update JOLTS data point to continued easing in wage growth The January JOLTS release showed no evidence of a resurgence in labour demand. With forward looking indicators still pointing to a sharp easing in wage growth, there is little to suggest that the... 6th March 2024 · 2 mins read
Canada Economics Update Bank gives little away The Bank of Canada gave little away about the potential timing of interest rate cuts today, although its communications suggest that it is gaining a bit more confidence that inflation is moving in the... 6th March 2024 · 3 mins read
