Europe Economics Update Draghi dovish, but ECB nearing its limits President Draghi struck a dovish tone following the ECB’s April policy meeting and stressed that the Governing Council was prepared to offer more policy support if needed. But while we expect the... 21st April 2016 · 1 min read
Europe Commercial Property Update Further falls needed to bring Moscow retail rents back to reality The falls in Moscow office and industrial rents since 2014 have been largely in line with our expectations. But despite large falls in real wages, retail rents have fallen by much less than we... 21st April 2016 · 1 min read
Europe Economics Update FX intervention could be on the way in Sweden Sweden’s Riksbank expanded its QE programme and kept its options open for easing later in the year. While the economy is growing strongly and inflation has picked up recently, a rising currency and... 21st April 2016 · 1 min read
Nordic & Swiss Economics Update FX intervention could be on the way in Sweden Sweden’s Riksbank expanded its QE programme and kept its options open for easing later in the year. While the economy is growing strongly and inflation has picked up recently, a rising currency and... 21st April 2016 · 1 min read
Europe Commercial Property Update Prime Belgian retail rents to defy soft consumer fundamentals A softening in the retail sector has negatively impacted the wider retail market in Belgium. However, new entrants from abroad remain keen on the prime high streets and shopping centres in major... 20th April 2016 · 1 min read
Europe Data Response German ZEW (Apr.) April’s rise in German ZEW investor sentiment reflected easing concerns about the global economic environment. But perceptions of current conditions in Germany have weakened, supporting our view that... 19th April 2016 · 1 min read
Europe Economics Update Greece’s first bailout review still not a done deal The protracted and difficult negotiations surrounding the first review of Greece’s third bailout underline the challenges that still lie ahead for Greece, its creditors and the euro-zone’s... 18th April 2016 · 1 min read
Europe Commercial Property Update What might the Grand Paris project mean for CBD property? The Grand Paris Express project will reduce travel times between Paris’ major hubs and will support urban renewal in a number of regeneration areas around the city, including new office hubs. By... 15th April 2016 · 1 min read
Europe Economics Weekly Euro’s stubbornness will drag on growth While we’re still hopeful that the divergence between US and euro-zone monetary policy will help to bring the euro lower against the US dollar, the combination of the Fed’s recent dovishnessand hints... 15th April 2016 · 1 min read
Global Markets Update German Bund yields – how low can they go? We think the yield of 10-year Bunds is unlikely to follow that of Japanese government bonds (JGBs) in turning negative, despite the fact that it came within a whisker of its historical low at the... 15th April 2016 · 1 min read
ECB Watch Draghi will be dovish, but ECB nearing its limits President Draghi will respond to German politicians’ recent criticism of the ECB’s ultra-loose policy at the meeting on 21st April by reiterating the Bank’s independence and stressing that more... 15th April 2016 · 1 min read
Europe Economic Outlook Policymakers running out of ammunition The euro-zone’s gradual recovery appears to be slowing as we had warned as boosts from the euro’s depreciation and falling oil prices fade. However, the ECB has hinted at limits to its future policy... 14th April 2016 · 1 min read
Europe Commercial Property Update Record take-up points to logistics rental growth across Germany In 2015, German logistics take-up hit a new record. Although the Kiel Institute’s logistics sentiment indicator fell to its lowest level in three years in Q1, consumer goods companies and delivery... 14th April 2016 · 1 min read
Europe Commercial Property Update What might Brexit mean for European property? It is most likely that the UK will vote to stay in the EU. However, in the event of a ‘leave’ vote, it is not necessarily the case that European commercial property investment would be immediately... 13th April 2016 · 1 min read
Europe Data Response Euro-zone Industrial Production (Feb.) Despite February’s fall in industrial production, the sector looks likely to have had a fairly strong Q1. But survey evidence suggests that this is unlikely to be sustained. 13th April 2016 · 1 min read
