Poland: MPC dovish on economy and inflation, but in denial that swift rate cuts are needed
Michal Dybula - Market Economics | 10 Apr 2013 16:06
The MPC left interest rates unchanged, in line with expectations. While the post-meeting statement highlighted the weakness of the economy and major disinflation, the Council made also clear that its upcoming decision will depend on the probability of inflation remaining considerably below the inflation target over the medium-run.
Wednesday, April 10, 2013
Tuesday, April 9, 2013
Melbourne Office Vacancies to Surge on Glut, Morgan Stanley Says
Melbourne Office Vacancies to Surge on Glut, Morgan Stanley Says
By Nichola Saminather - Apr 8, 2013
Melbourne’s office vacancy rate will jump to about 11 percent this year from about 8 percent now, as supply outpaces demand, Morgan Stanley said.
http://www.bloomberg.com/news/2013-04-08/melbourne-office-vacancies-to-surge-on-glut-morgan-stanley-says.html
By Nichola Saminather - Apr 8, 2013
Melbourne’s office vacancy rate will jump to about 11 percent this year from about 8 percent now, as supply outpaces demand, Morgan Stanley said.
http://www.bloomberg.com/news/2013-04-08/melbourne-office-vacancies-to-surge-on-glut-morgan-stanley-says.html
Melbourne office market joins high rise glut
Melbourne office market joins high rise glut
Posted by Unconventional Economist in Australian Property, Featured Article
on April 8, 2013 |
By Leith van Onselen
This blog has spent a lot of time highlighting the looming oversupply of apartments facing Melbourne. Well, it appears that the office market is facing similar conditions, with Morgan Stanley today releasing research pointing to a big ramp-up in office construction and office vacancy rates over the next couple of years:
http://www.macrobusiness.com.au/2013/04/melbourne-office-market-joins-high-rise-glut/
Posted by Unconventional Economist in Australian Property, Featured Article
on April 8, 2013 |
By Leith van Onselen
This blog has spent a lot of time highlighting the looming oversupply of apartments facing Melbourne. Well, it appears that the office market is facing similar conditions, with Morgan Stanley today releasing research pointing to a big ramp-up in office construction and office vacancy rates over the next couple of years:
http://www.macrobusiness.com.au/2013/04/melbourne-office-market-joins-high-rise-glut/
Monday, April 8, 2013
Kidder Mathews: San Francisco Office Market – 1st Quarter 2013
http://news.theregistrysf.com/kidder-mathews-san-francisco-office-market-1st-quarter-2013/
Kidder Mathews: San Francisco Office Market – 1st Quarter 2013
Posted on April 8, 2013 by publisher in News Releases Market Overview
Vacancy: DOWN from 9.5% to 9.2%
Net Absorption: UP 367,259
Average Asking Rental Rates: UP from $38.17 to $39.02
New Office Construction: UP
Notable Lease Transactions
1.101 Spear, Salesforce.com, 228,721 s.f.
2.1455 Market, Square Inc, 85,111 s.f.
3.760 Market, Obvious Corporation, 75,000 s.f.
4.60 Spear St, Rodan+Fields, 62,524 s.f.
5.1 Market, McKenna, Long & Aldridge, 42,288 s.f. (sublease)
Kidder Mathews: San Francisco Office Market – 1st Quarter 2013
Posted on April 8, 2013 by publisher in News Releases Market Overview
Vacancy: DOWN from 9.5% to 9.2%
Net Absorption: UP 367,259
Average Asking Rental Rates: UP from $38.17 to $39.02
New Office Construction: UP
Notable Lease Transactions
1.101 Spear, Salesforce.com, 228,721 s.f.
2.1455 Market, Square Inc, 85,111 s.f.
3.760 Market, Obvious Corporation, 75,000 s.f.
4.60 Spear St, Rodan+Fields, 62,524 s.f.
5.1 Market, McKenna, Long & Aldridge, 42,288 s.f. (sublease)
2013 | Q1 San Francisco Office Report
http://www.colliers.com/en-us/sanfrancisco/insights
2013 | Q1 San Francisco Office Report >>
After a record setting 2012, San Francisco started 2013 with a strong first quarter. The global economy continued to bounce back and San Francisco remains ahead of the pack as job growth and increased productivity due to technology enhancements have benefitted the office market. The first quarter marked the eleventh consecutive quarter of positive net absorption and vacancy is hovering at 10 percent citywide. Even more encouraging is the 1.2 million square feet of ground up office development currently under construction, driven by the city’s increased employment and leasing volume over the last 24 months.
http://www.colliers.com/en-us/sanfrancisco/insights
2013 | Q1 San Francisco Office Report >>
After a record setting 2012, San Francisco started 2013 with a strong first quarter. The global economy continued to bounce back and San Francisco remains ahead of the pack as job growth and increased productivity due to technology enhancements have benefitted the office market. The first quarter marked the eleventh consecutive quarter of positive net absorption and vacancy is hovering at 10 percent citywide. Even more encouraging is the 1.2 million square feet of ground up office development currently under construction, driven by the city’s increased employment and leasing volume over the last 24 months.
http://www.colliers.com/en-us/sanfrancisco/insights
Eco Analysis - February German IP expands by 0.5% (H. Amourda)
Eco Analysis - February German IP expands by 0.5% (H. Amourda)
Only a few key economic data were released this Monday. German Industrial production expanded by 0.5% mom in February, while the number for January was revised down markedly. For Q1, growth in industrial production is likely to be around 0, up with Q4, when it fell by 2.6% qoq. Based on a stronger recovery in private consumption, we still expect a robust rebound in GDP in Q1. In the euro area, the April Sentix investor survey fell further from -10.6 in March to -17.3. We now look forward the bulk of European IP data set to be released this week.
Following the stronger than expected factory orders last week, at 2.3% mom, February industrial production surprised on the upside as well. Indeed, the industrial production printed at 0.5% mom (cons: 0.3). Looking at the components, the construction sector contracted by 2.7% mom, possibly affected by poor weather conditions. The Bundesbank report shows some pressures from the energy component which rose from -0.4% mom to 3.9% mom in February, while the manufacturing component increased as well by 0.5% mom from -1.1% mom. Also noteworthy, the January figure was revised down from 0% mom to -0.6% mom. Looking ahead, our scenario remains for a technical rebound in GDP growth in Q1 2013.
Only a few key economic data were released this Monday. German Industrial production expanded by 0.5% mom in February, while the number for January was revised down markedly. For Q1, growth in industrial production is likely to be around 0, up with Q4, when it fell by 2.6% qoq. Based on a stronger recovery in private consumption, we still expect a robust rebound in GDP in Q1. In the euro area, the April Sentix investor survey fell further from -10.6 in March to -17.3. We now look forward the bulk of European IP data set to be released this week.
Following the stronger than expected factory orders last week, at 2.3% mom, February industrial production surprised on the upside as well. Indeed, the industrial production printed at 0.5% mom (cons: 0.3). Looking at the components, the construction sector contracted by 2.7% mom, possibly affected by poor weather conditions. The Bundesbank report shows some pressures from the energy component which rose from -0.4% mom to 3.9% mom in February, while the manufacturing component increased as well by 0.5% mom from -1.1% mom. Also noteworthy, the January figure was revised down from 0% mom to -0.6% mom. Looking ahead, our scenario remains for a technical rebound in GDP growth in Q1 2013.
Turkey: Gradual recovery in IP
Turkey: Gradual recovery in IP
At 1.6% y/y, February’s industrial production (IP) index was slightly below the market consensus and our expectation of 2%. On a seasonally and calendar adjusted basis, IP increased by 1.5% m/m, following a rise of 2.4% m/m in January and offset the 3.5% m/m contraction in December. The weaker-than-expected IP data in February hint that the economic recovery is likely to be gradual and slower than envisaged, despite the CBRT’s monetary easing. Yet, we expect the pickup in the manufacturing activity to become more visible in Q2, as suggested by the strong pace of credit growth and above 50 PMI readings.
At 1.6% y/y, February’s industrial production (IP) index was slightly below the market consensus and our expectation of 2%. On a seasonally and calendar adjusted basis, IP increased by 1.5% m/m, following a rise of 2.4% m/m in January and offset the 3.5% m/m contraction in December. The weaker-than-expected IP data in February hint that the economic recovery is likely to be gradual and slower than envisaged, despite the CBRT’s monetary easing. Yet, we expect the pickup in the manufacturing activity to become more visible in Q2, as suggested by the strong pace of credit growth and above 50 PMI readings.
Sunday, April 7, 2013
Chile: Feeble February Growth
Chile: Feeble February Growth
Nader Nazmi - Market Economics
Latam Macro Snapshot | 05 Apr 2013 |
Growth of real GDP, as measured by its monthly proxy Imacec, decelerated from 6.5% y/y in January to 3.8% y/y in February. This is in line with our 3.9% y/y forecasts but falls well short of the 4.8% y/y median estimate from the Bloomberg survey.
Nader Nazmi - Market Economics
Latam Macro Snapshot | 05 Apr 2013 |
Growth of real GDP, as measured by its monthly proxy Imacec, decelerated from 6.5% y/y in January to 3.8% y/y in February. This is in line with our 3.9% y/y forecasts but falls well short of the 4.8% y/y median estimate from the Bloomberg survey.
Friday, April 5, 2013
Texas Refinery Is Saudi Foothold in U.S. Market
Texas Refinery Is Saudi Foothold in U.S. Market
Published: Friday, 5 Apr 2013 | 9:21 AM ET
By: By Clifford Krauss
PORT ARTHUR, Tex. — It is hard to imagine the desert sands of the Persian Gulf being any farther away than from this swampy refinery port known for Cajun food, sport fishing and being the birthplace of Janis Joplin.
But right in the middle of town stands a strategic outpost for Saudi Arabia's global ambitions, although one that the Saudis appear loath to publicize.
http://www.cnbc.com/id/100618028
Published: Friday, 5 Apr 2013 | 9:21 AM ET
By: By Clifford Krauss
PORT ARTHUR, Tex. — It is hard to imagine the desert sands of the Persian Gulf being any farther away than from this swampy refinery port known for Cajun food, sport fishing and being the birthplace of Janis Joplin.
But right in the middle of town stands a strategic outpost for Saudi Arabia's global ambitions, although one that the Saudis appear loath to publicize.
http://www.cnbc.com/id/100618028
Investment opportunities in debt fund strategies
Investment opportunities in debt fund strategies
Thu, 04/04/2013 - 11:13
Download the special report Investment opportunities in debt fund strategies
BNP Paribas
By James Williams – Prior to the global financial crisis the ability for European corporates to finance themselves via leveraged loans was dominated by a prevalence of collateralised loan obligations (CLOs): in 2007, at its peak, the CLO market bought up two thirds of the USD166billion of leveraged loans issued that year, according to ratings agency Standard & Poor’s.
http://www.hedgeweek.com/2013/04/04/182608/investment-opportunities-debt-fund-strategies
Thu, 04/04/2013 - 11:13
Download the special report Investment opportunities in debt fund strategies
BNP Paribas
By James Williams – Prior to the global financial crisis the ability for European corporates to finance themselves via leveraged loans was dominated by a prevalence of collateralised loan obligations (CLOs): in 2007, at its peak, the CLO market bought up two thirds of the USD166billion of leveraged loans issued that year, according to ratings agency Standard & Poor’s.
http://www.hedgeweek.com/2013/04/04/182608/investment-opportunities-debt-fund-strategies
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